USB SEC Filings

U.S. Bancorp (USB) announced the adoption of the U.S. Bank Executive Change in Control Severance Plan on January 27, 2026. This new plan aims to align the company's change in control benefits with those of peer financial institutions and incorporates protective measures for the company. It covers executive officers and certain other key personnel, providing specific severance benefits in the event of an involuntary termination without 'Cause' or a 'Good Reason Resignation' within a 24-month period following a 'Change in Control'. Investors should note that the severance package is structured to provide a financial cushion for executives during a significant corporate transition. The benefits include a lump-sum cash payment encompassing two times annual base salary, two times the target annual incentive award, a pro-rata portion of the annual incentive for the current performance period, and six months of continued health coverage. The plan also outlines conditions for participation and receipt of benefits, including the execution of agreements related to releases, confidentiality, non-solicitation, and non-competition, which are standard provisions designed to safeguard the company's interests.

U.S. Bancorp (USB) announced a significant leadership transition via an 8-K filing on January 27, 2026. Effective April 21, 2026, current Chairman Andrew Cecere will retire from the Board of Directors after 40 years of service. Mr. Cecere's departure is for personal reasons and is not related to any disagreements concerning the Company's operations or policies, which provides a degree of continuity and stability. In response to this transition, the Board has elected Gunjan Kedia, the current Chief Executive Officer and President, to assume the role of Chairman of the Board in addition to her existing executive responsibilities. This move consolidates key leadership positions under Ms. Kedia, signaling a strategic decision to maintain unified direction and operational efficiency during this period of change.

U.S. Bancorp (USB) has filed an 8-K report on January 20, 2026, to announce its financial results for the fourth quarter and full year ended December 31, 2025. The report incorporates by reference a press release (Exhibit 99.1) containing these results and includes supplementary materials (Exhibit 99.2) and a presentation for an upcoming investor conference call (Exhibit 99.3). Investors should note that the press release is considered "filed" under Section 18 of the Exchange Act, while the earnings supplement and presentation are "furnished" and do not carry the same regulatory implications unless specifically stated otherwise. While the specific financial figures are detailed in the attached exhibits, this filing serves as notification of the official release of Q4 2025 results and the availability of related investor materials. The company also plans to host an investor conference call and webcast on January 20, 2026, to discuss these results, providing an opportunity for stakeholders to gain further insights and engage directly with management.

U.S. Bancorp has announced a significant acquisition through an Agreement and Plan of Merger with BTIG Parent. This transaction involves the merger of a U.S. Bancorp subsidiary, Merger Sub, with BTIG Parent, which will then operate as a subsidiary of U.S. Bancorp. The deal's structure includes an upfront cash payment of $362.5 million, the issuance of approximately 6.6 million shares of U.S. Bancorp common stock, and potential contingent cash consideration of up to $275 million over three years, contingent upon achieving specific revenue targets. This acquisition aims to expand U.S. Bancorp's business operations and is subject to customary closing conditions, including regulatory approvals. Investors should note that the equity component of this transaction is being issued under the Section 4(a)(2) exemption of the Securities Act of 1933, indicating it is not being registered with the SEC. The filing also includes forward-looking statements that highlight potential risks and uncertainties associated with the acquisition, such as the realization of cost savings and revenue synergies, business disruptions, regulatory approval challenges, integration costs, and potential dilution from the stock issuance. Investors are advised to review the full risk factors outlined in the Company's Form 10-K and subsequent filings.

U.S. Bancorp (USB) has filed a Current Report on Form 8-K to announce the participation of key executives in the upcoming BancAnalysts Association of Boston Conference. Vice Chair and CFO John Stern, along with other senior payments executives, will be presenting on November 7, 2025. Investors can access the presentation slides and a live audio webcast through the company's Investor Relations website. This filing primarily serves to provide transparency and access to forward-looking discussions with the investment community. The attached presentation slides (Exhibit 99.1) are expected to offer insights into U.S. Bancorp's strategic initiatives, financial performance, and outlook, particularly within its significant payments division. While this report is furnished and not deemed 'filed' for certain regulatory purposes, it represents an important avenue for investors to gain a deeper understanding of the company's business and strategic direction directly from its leadership.

US BancORP \DE\ (USB) reported a strong third quarter of 2025, with net income attributable to US Bancorp shareholders increasing by 16.7% to $2.0 billion, or $1.22 per diluted share. This growth was driven by a robust increase in total net revenue, up 6.8% year-over-year, fueled by a 14.1% rise in noninterest income and a modest 2.0% increase in net interest income. The company also demonstrated effective expense management, with noninterest expense decreasing by 0.2% despite investments in technology. For the first nine months of 2025, net income rose by 19.2%, showcasing sustained profitability and improved efficiency ratios. Asset quality remains stable, with nonperforming assets decreasing by 9.7% and the allowance for credit losses slightly decreasing by 0.4% while still covering nonperforming assets a healthy 490%. Capital ratios remain strong, exceeding regulatory requirements, with Common Equity Tier 1 capital at 10.9%. The company also repurchased approximately $2.2 billion in common stock during the quarter, signaling confidence and a commitment to returning capital to shareholders. Overall, USB delivered a solid financial performance, demonstrating revenue growth, controlled expenses, and sound risk management.

U.S. Bancorp (USB) has filed an 8-K report on October 16, 2025, to disclose its financial results for the third quarter of 2025 (3Q25). The report incorporates by reference a press release (Exhibit 99.1) detailing these results, which is considered 'filed' under the Securities Exchange Act of 1934. Investors should note that while this press release provides the official reported financial outcomes, additional supplemental materials (Exhibit 99.2) and a presentation for an upcoming investor conference call (Exhibit 99.3) are also being furnished, offering further insights into the company's performance and future outlook. The company will also be holding an investor conference call and webcast on October 16, 2025, to discuss these 3Q25 results. The presentation materials for this call, which contain both historical and forward-looking information, are also incorporated by reference. While the press release is filed, the supplemental earnings information and the conference call presentation are furnished, meaning they are not subject to the same liabilities under Section 18 of the Exchange Act, though they may be incorporated into future SEC filings if expressly stated.

U.S. Bancorp has filed an 8-K detailing new agreements related to the use of its corporate aircraft by executive officers, including the CEO, Gunjan Kedia. These agreements, specifically a time sharing agreement and a charter flight reimbursement agreement, formalize the terms under which executives can utilize the company's aircraft and reimburse for related costs. While the filing doesn't disclose financial figures, it establishes a framework for these arrangements, ensuring transparency and proper governance regarding executive perquisites.

U.S. Bancorp (USB) reported solid results for the second quarter and the first six months of 2025, demonstrating growth in key financial metrics. For the second quarter, net income attributable to U.S. Bancorp increased by 13.2% to $1.815 billion, or $1.11 per diluted common share, compared to the prior year. This growth was driven by a 2.0% increase in total net revenue, reaching $7.0 billion, and a 0.8% decrease in noninterest expense to $4.181 billion. The provision for credit losses also saw a decrease of 11.8%. For the first six months of 2025, the company reported a net income attributable to U.S. Bancorp of $3.524 billion, a significant 20.6% increase year-over-year, with diluted earnings per share rising to $2.14. Total net revenue grew by 2.8% to $13.962 billion, while noninterest expense decreased by 3.0% to $8.413 billion. The provision for credit losses was down 7.4%. The bank maintained strong capital ratios, exceeding regulatory requirements, and saw improvements in its efficiency ratio, reflecting effective cost management and operational efficiencies. The company also highlighted growth in its Payment Services segment and continued focus on managing credit risk, with a stable allowance for credit losses.

U.S. Bancorp (USB) has filed an 8-K report on July 17, 2025, to announce its financial results for the second quarter ended June 30, 2025 (2Q25). The filing includes a press release detailing the company's operational and financial performance for the quarter. Investors should note that the press release (Exhibit 99.1) is considered "filed" under the Exchange Act, meaning it is subject to SEC oversight regarding its accuracy. Additional information, including an earnings supplement (Exhibit 99.2) and a presentation for the upcoming investor conference call (Exhibit 99.3), are also provided but are furnished, not filed, and thus carry less regulatory weight. These supplementary materials offer further insights into the company's financial condition and future outlook. The company has also scheduled an investor conference call and webcast for July 17, 2025, to discuss these 2Q25 financial results. The accompanying presentation materials offer additional historical and forward-looking data. Investors are encouraged to review these exhibits, particularly the press release and the conference call presentation, for a comprehensive understanding of U.S. Bancorp's recent performance and strategic direction. It is important for investors to be aware of the forward-looking statements included in these documents and the cautionary statements that highlight factors which could materially impact actual results.

U.S. Bancorp (USB) has announced key updates regarding its capital requirements and planned capital actions following the Federal Reserve's stress testing. The Company received notification of a preliminary Stress Capital Buffer (SCB) requirement of 2.6% based on the Dodd-Frank Act Stress Test results. While the final SCB requirement is expected by August 31, 2025, this preliminary figure provides an early indication of regulatory capital expectations. In conjunction with this announcement, U.S. Bancorp also revealed plans for enhanced shareholder returns. The Company intends to increase its quarterly common stock dividend from $0.50 to $0.52 per share, effective in the third quarter of 2025, subject to Board of Directors approval. These developments suggest management's confidence in the company's capital position and its commitment to returning value to shareholders.

U.S. Bancorp (USB) reported a strong first quarter for 2025, with net income attributable to the company increasing by a significant 29.6% to $1.709 billion, or $1.03 per diluted share, compared to the prior year's first quarter. This robust performance was driven by a 3.6% rise in total net revenue, fueled by a 2.7% increase in net interest income and a 5.0% growth in noninterest income, particularly from trust and investment management fees and payment services. The company also demonstrated effective cost management, with noninterest expense decreasing by 5.1% year-over-year, largely due to lower merger and integration charges and improved compensation and employee benefits expenses. Asset quality remained solid, with a decrease in nonperforming assets and a stable allowance for credit losses as a percentage of period-end loans. Capital ratios remained strong, exceeding regulatory requirements. The company's effective management of expenses and revenue growth contributed to improved profitability metrics, including a higher return on average assets and return on average common equity, making for a positive start to the fiscal year.

U.S. Bancorp held its 2025 annual meeting of shareholders on April 15, 2025, where key corporate governance and executive matters were put to a vote. All thirteen director nominees were elected by a significant majority, indicating shareholder confidence in the current board leadership. Additionally, shareholders provided advisory approval for the compensation of the Company's executive officers. The selection of Ernst & Young LLP as the independent auditor for the fiscal year 2025 was also ratified with strong support. However, a shareholder proposal requesting a report on board oversight of risks relating to discrimination was not approved. This outcome suggests that while shareholders are largely satisfied with the current management and board structure, there were differing views on specific governance initiatives. The high voting percentages in favor of director elections and auditor ratification underscore a stable shareholder base that generally supports the company's established practices.

U.S. Bancorp (USB) filed an 8-K report on April 16, 2025, announcing its financial results for the first quarter ended March 31, 2025. The report primarily consists of press releases and supplemental materials that detail the company's performance and outlook. Investors should note that the press release (Exhibit 99.1) is considered 'filed' under the Exchange Act, meaning it is subject to formal disclosure rules. While the full financial details are available in the attached exhibits, this 8-K serves as the formal notification of the earnings release and associated investor communications. The company also held an investor conference call and webcast to discuss these results, with presentation materials (Exhibit 99.3) incorporated by reference. Investors looking for detailed quantitative performance metrics will need to consult the referenced exhibits and the company's website for the 1Q25 Earnings Supplement and Earnings Conference Call Presentation.

This SEC filing (Form 8-K) by U.S. Bancorp (USB) details executive compensation adjustments tied to the transition in leadership. Following the previously announced appointment of Gunjan Kedia as President and CEO, effective April 15, 2025, her compensation package has been formalized. This includes an increased base salary and eligibility for a significant annual cash incentive, alongside an additional performance-based restricted stock unit award designed to align with her new responsibilities and market standards. The filing also outlines the compensation for Andrew Cecere, who transitions from CEO to Executive Chairman. Mr. Cecere will receive a base salary in his new role. Furthermore, an amendment to the U.S. Bank Non-Qualified Retirement Plan was approved, freezing Mr. Cecere's supplemental benefit as of April 15, 2025. Investors should note that these changes are primarily focused on executive compensation and leadership transition rather than new financial performance disclosures.

U.S. Bancorp (USB) has filed a Form 8-K to disclose a significant event concerning the tragic plane crash that occurred on March 29, 2025, in Brooklyn Park, Minnesota. The aircraft involved was registered to a private company affiliated with Mr. Terrance R. Dolan, the company's Vice Chair and Chief Administration Officer. While the official confirmation of his presence on board is pending from the medical examiner, the company believes Mr. Dolan was aboard the flight.

U.S. Bancorp (USB) has filed an 8-K report announcing the resignation of director Kimberly J. Harris, effective immediately. Ms. Harris has chosen to step down from the Board of Directors and will not seek re-election at the upcoming 2025 annual shareholder meeting. The company has stated that her resignation is for personal reasons, specifically to focus on her health and recovery from a recent medical issue.

U.S. Bancorp (USB) has filed its 10-K for the fiscal year ending December 30, 2024. The company operates as a diversified financial services holding company, providing a broad range of services including lending, depository services, cash management, capital markets, and trust and investment management. USBNA, its banking subsidiary, holds the vast majority of consolidated deposits. The company emphasizes its digital banking services, extensive ATM network, and significant presence in both consumer and business banking, as well as payment services. The filing highlights the company's commitment to managing various risks, including cybersecurity, and its adherence to a comprehensive regulatory framework. U.S. Bancorp is subject to enhanced prudential standards for large banking organizations and actively participates in regulatory stress testing and capital planning processes. The company also details its human capital strategies, focusing on employee development and retention, competitive compensation, and wellness programs, noting a workforce of 70,263 employees as of year-end 2024. Investors should be aware of the extensive risk factors detailed, ranging from economic downturns and market volatility to regulatory changes and operational risks.

U.S. Bancorp (USB) filed an 8-K on January 30, 2025, reporting two significant executive changes. Effective February 3, 2025, Shailesh M. Kotwal will step down as Vice Chair, Payment Services, as previously announced in August 2024. While he will transition to an advisory role to support leadership changes in the Payments business until June 30, 2025, this marks a formal departure from his executive position. This transition within the Payments segment may signal a strategic shift or a planned succession within a key business area of the company.

U.S. Bancorp (USB) has announced a significant leadership transition, appointing Gunjan Kedia as the new President and Chief Executive Officer, effective April 15, 2025. Ms. Kedia, who has held various senior leadership roles within the company since 2016, including her most recent position as President, will also join the Board of Directors. This appointment signals a continuation of leadership from within the organization, leveraging her extensive experience within U.S. Bancorp. Following this transition, Andrew Cecere, the current Chairman and CEO, will move to the role of Executive Chairman, remaining on the Board. While details on the base salary and annual cash incentives for Ms. Kedia are yet to be finalized, her compensation package will include a substantial long-term incentive award valued at $10 million, comprising performance-based and restricted stock units. The performance metrics for these awards are tied to the company's achievement of Return on Tangible Common Equity (ROTCE) targets and Total Shareholder Return (TSR) relative to peers over a three-year period, aligning executive interests with long-term shareholder value.

U.S. Bancorp (USB) has filed an 8-K report on January 16, 2025, to announce its financial results for the fourth quarter and full year ended December 31, 2024. The report primarily serves to incorporate by reference the company's press release (Exhibit 99.1) and a supplemental earnings document (Exhibit 99.2) detailing these results. Investors should refer to these attached exhibits for the specific financial performance and operational metrics. The company also announced an investor conference call and webcast scheduled for January 16, 2025, to discuss these results, with presentation materials (Exhibit 99.3) available, which may contain additional forward-looking information. While the 8-K itself does not contain the detailed financial figures, it directs investors to the press release and earnings supplement for a comprehensive overview of U.S. Bancorp's performance during the latest reporting period. These documents are expected to provide insights into key areas such as revenue, net income, earnings per share, and potentially commentary on loan growth, deposit trends, and credit quality, which are crucial for evaluating the bank's operational health and future outlook. Investors are advised to review these exhibits carefully.

U.S. Bancorp (USB) filed an 8-K report on November 7, 2024, primarily to disclose information related to a presentation by its Chief Financial Officer and Head of Wealth, Corporate, Commercial, and Institutional Banking at the BancAnalysts Association of Boston Conference. The filing includes presentation slides, which are incorporated by reference and available on the company's investor relations website. Investors can access these slides and a live audio webcast of the presentation, with a replay to be available for one year. This event is a platform for the company to share updates and insights with analysts and investors. The core purpose of this 8-K is to provide transparency and accessible information to the investment community regarding U.S. Bancorp's ongoing strategic discussions and financial outlook. While this filing doesn't contain new financial results or material business changes, it signifies the company's commitment to engaging with stakeholders and sharing its perspective on its performance and future direction through investor events. Investors should refer to the attached presentation slides for detailed content.

U.S. Bancorp (USB) reported its financial results for the third quarter and the first nine months of 2024. For the third quarter, net income attributable to U.S. Bancorp was $1.714 billion, or $1.03 per diluted share, a notable increase from the prior year's $1.523 billion ($0.91 per diluted share), which was impacted by merger and integration charges. Total net revenue for the quarter decreased by 2.4% year-over-year, primarily due to a decline in net interest income driven by higher deposit costs, partially offset by higher earnings asset yields. Noninterest income also saw a slight decrease, impacted by net losses on investment securities sales. However, noninterest expense was significantly lower, down 7.2%, largely due to the absence of substantial merger and integration charges recorded in the prior year. The company's provision for credit losses increased by 8.2% due to higher net charge-offs, particularly in credit card, commercial, and commercial real estate loans. For the nine-month period, net income remained relatively flat year-over-year, with a slight increase in noninterest income being offset by a decrease in net interest income and lower provision for credit losses.

U.S. Bancorp (USB) filed an 8-K on October 16, 2024, to report its financial results for the quarter ended September 30, 2024. The filing primarily consists of a press release (Exhibit 99.1) detailing these results, along with a supplemental earnings document (Exhibit 99.2) and a presentation for their investor conference call (Exhibit 99.3). Investors should note that the press release is officially 'filed' with the SEC and contains important information about the company's performance and outlook. The supplemental materials are 'furnished,' meaning they are provided for additional context but are not subject to the same stringent reporting requirements as the filed press release. The company will also be holding an investor call to discuss these results, which may offer further insights.

U.S. Bancorp (USB) has announced a temporary suspension of trading under its employee benefit plans, specifically the U.S. Bank 401(k) Savings Plan. This measure, commonly referred to as a 'blackout period,' is necessitated by a change in the plan's recordkeeper, trustee, and investment fund options. The blackout period is expected to commence on December 24, 2024, and conclude during the week of January 12, 2025. During this period, participants will face restrictions on various transactions within their 401(k) accounts, including fund transfers, loan origination and repayment, distributions, and investment direction. Notably, these restrictions will also apply to the Company's executive officers and directors concerning their ability to trade U.S. Bancorp common stock. Investors should be aware that this is a standard procedural event related to plan administration and not indicative of any financial distress or operational issues.

U.S. Bancorp (USB) announced on September 19, 2024, the agreement to issue $10 million in Senior Medium-Term Notes, Series CC Callable Fixed Rate Notes due September 20, 2029. This issuance is part of the Company's existing medium-term note program, which allows for the sale of both Senior (Series CC) and Subordinated (Series DD) Notes. The Notes due 2029 have been registered under the Securities Act of 1933 via a Form S-3 registration statement. The filing also includes an accompanying legal opinion from Willkie, Farr & Gallagher LLP regarding the issuance of these notes and potential future issuances under the program, providing assurance on the legal standing of the debt offering.

U.S. Bancorp (USB) has announced significant capital return initiatives to shareholders, demonstrating confidence in its financial position and commitment to enhancing shareholder value. The company's board of directors has authorized a substantial new share repurchase program, allowing for the buyback of up to $5 billion in outstanding common stock, effective September 13, 2024. This new program replaces a previous one and signals a strategic move to reduce share count and potentially boost earnings per share.

U.S. Bancorp (USB) has filed an 8-K report to announce its upcoming Investor Day event scheduled for September 12, 2024. This event will feature presentations from Chairman and CEO Andrew Cecere and other members of the management team, offering insights into the company's strategic direction and performance. Investors are encouraged to tune in via webcast or attend in person in New York City. The primary purpose of this filing is to provide investors with access to the presentation slides that will be discussed during the Investor Day. These materials are being furnished and will not be deemed "filed" for regulatory purposes, meaning they are not subject to the liabilities of Section 18 of the Securities Exchange Act of 1934. However, they represent a crucial source of information for understanding the company's current strategy and future outlook.

U.S. Bancorp (USB) has filed an 8-K report primarily to announce the upcoming retirement of Shailesh M. Kotwal, Vice Chair of Payment Services. Mr. Kotwal intends to retire in the first half of 2025. This departure represents a change in a key leadership role within the company's significant Payment Services division, which is a core revenue generator. Investors should monitor the company's succession planning and the impact on the strategic direction and operational performance of the Payment Services segment as the retirement date approaches.

U.S. Bancorp (USB) reported mixed results for the second quarter of 2024, with net income attributable to the company increasing by 17.8% to $1.6 billion, or $0.97 per diluted share, compared to the prior year. This growth was primarily driven by a significant reduction in the provision for credit losses and lower noninterest expenses, both of which benefited from the absence of substantial one-time charges seen in the prior year, such as merger and integration costs related to the MUFG Union Bank acquisition. However, total net revenue declined by 4.3% year-over-year to $6.9 billion, largely due to an 8.9% decrease in net interest income, attributed to the impact of higher interest rates on deposit pricing and mix. Despite the revenue pressure, noninterest income saw a modest 3.3% increase, led by stronger performance in mortgage banking, trust and investment management fees, and payment services. The company also maintained strong capital ratios, with Common Equity Tier 1 capital at 10.3% under the standardized approach.

U.S. Bancorp (USB) has filed an 8-K report on July 17, 2024, to disclose its financial results for the second quarter ended June 30, 2024. This filing primarily incorporates by reference a press release (Exhibit 99.1) containing the company's operational and financial performance for the quarter. Additionally, the company has made available an earnings supplement (Exhibit 99.2) and presentation materials for its investor conference call (Exhibit 99.3) on its website, which provide further details and historical/forward-looking information. Investors should note that while the press release is considered "filed" under the Exchange Act, the earnings supplement and presentation materials are furnished and not deemed filed, unless otherwise specified. The primary focus for investors will be the financial performance metrics and forward-looking statements contained within the press release and supplemental materials, which offer insights into the company's current financial condition and future outlook. The report indicates that U.S. Bancorp will host an investor conference call to discuss these results on July 17, 2024.

U.S. Bancorp (USB) has announced a significant change in its Board of Directors, appointing Aleem Gillani as a new director effective July 16, 2024. This appointment is a key event, as Mr. Gillani will also serve on the influential Audit and Risk Management Committees. His inclusion is expected to bring fresh perspectives and expertise to the company's oversight functions, particularly in critical areas of financial reporting and risk assessment.

U.S. Bancorp (USB) announced that the Federal Reserve has provided its preliminary Stress Capital Buffer (SCB) requirement. Based on the Dodd-Frank Act Stress Test results, the preliminary SCB requirement stands at 3.1%. This figure is subject to finalization by the Federal Reserve, with the official requirement expected by August 31, 2024. The finalized SCB requirement will take effect from October 1, 2024, and will remain in place through September 30, 2025. This announcement is significant for investors as the SCB requirement directly impacts a bank's capital management and regulatory capital ratios. A higher SCB requirement necessitates holding more capital, which can affect a bank's ability to pay dividends, repurchase shares, or deploy capital for growth initiatives. Investors should monitor the final SCB requirement and its potential implications for U.S. Bancorp's capital plans and overall financial flexibility over the coming year.

U.S. Bancorp (USB) has announced a significant organizational change within its Consumer and Business Banking division. Effective July 31, 2024, Timothy A. Welsh will be stepping down from his role as Vice Chair of Consumer and Business Banking. While he is departing his executive position, Mr. Welsh will remain with the Company in an advisory capacity to the President until October 4, 2024, ensuring a smooth transition and leveraging his experience during this period. This move suggests a strategic realignment within a key business segment. Investors should monitor the company's subsequent communications for details on who will assume Mr. Welsh's responsibilities and any further strategic implications for the consumer and business banking operations. The announcement was made via a press release filed on June 27, 2024, which is attached as an exhibit to this 8-K filing.

U.S. Bancorp (USB) has filed a Current Report (8-K) on May 31, 2024, to announce a change in its "Replacement Capital Covenants." These covenants are financial agreements related to specific debt issuances. The primary change is that as of June 1, 2024, the company's 7.50% Subordinated Debentures due 2026 will no longer be considered "covered debt" under these covenants. Instead, the 2.491% Fixed Rate Reset Subordinated Notes due November 3, 2036, will become the new covered debt. This action is taken in accordance with the terms of the existing Replacement Capital Covenants, which are linked to preferred stock and trust securities issuances from 2006.

U.S. Bancorp (USB) filed an 8-K/A amendment on May 6, 2024, primarily to include presentation slides from the Barclays Americas Select Franchise Conference 2024 as an exhibit. This filing does not appear to introduce new financial results or material business updates beyond what was likely presented at the conference. Investors should refer to the actual presentation slides (Exhibit 99.1) for details regarding the content discussed at the conference. While this amendment provides access to that material, it is crucial to understand that the 8-K/A itself is procedural, serving to attach previously presented information. Therefore, any significant insights or forward-looking statements will be contained within the referenced slides, not the 8-K/A filing document itself.

U.S. Bancorp (USB) filed an 8-K on May 6, 2024, primarily to disclose information related to an upcoming presentation at the Barclays Americas Select Franchise Conference and subsequent investor meetings. Key executives, Vice Chair and Chief Administration Officer Terrance R. Dolan, and CFO John C. Stern, are scheduled to present on May 7, 2024. Investors should note that the company has provided the presentation slides (Exhibit 99.1) as part of this filing. These slides, which will be discussed by management, are accessible via the Investor Relations section of U.S. Bancorp's website, along with a live audio webcast and a replay. The information furnished in this 8-K is for informational purposes and is not deemed "filed" under Section 18 of the Exchange Act, nor is it incorporated into other SEC filings.

U.S. Bancorp (USB) announced a significant leadership change with the immediate promotion of Gunjan Kedia to President. Ms. Kedia, previously Vice Chair of Wealth, Corporate, Commercial & Institutional Banking, will now assume the role of President for both U.S. Bancorp and its principal banking subsidiary, U.S. Bank National Association. This promotion is effective immediately and Ms. Kedia will continue to report to Chairman and CEO Andrew Cecere, who previously held the President title. This executive move comes with a revised compensation package for Ms. Kedia, including an increased base salary to $1,000,000, an annual cash incentive award targeted at 250% of her base salary, and a long-term incentive award valued at $1,500,000. The long-term award will be a mix of performance-based and restricted stock units. Investors should note that this appointment signifies a deepening of leadership responsibilities within the organization, and compensation details are aligned with other executive officers.

U.S. Bancorp (USB) reported a net income of $1.32 billion for the first quarter of 2024, a decrease of 22.2% compared to $1.70 billion in the prior year. This decline was primarily driven by a 14.0% decrease in net interest income, largely due to higher interest rates impacting deposit pricing, partially offset by higher yields on earning assets. While noninterest income saw a modest 7.7% increase, driven by higher fee revenues across various categories, the provision for credit losses rose by 29.5% year-over-year, reflecting a normalization in the credit environment. Despite the year-over-year profit decline, the company demonstrated solid operational performance and capital strength. Total net revenue saw a decrease of 6.4%, but noninterest expense was down 2.1% due to expense management and MUB acquisition synergies. The company's capital ratios remained robust, exceeding regulatory "well-capitalized" requirements, with Common Equity Tier 1 capital at 10.0% under the Basel III standardized approach. Deposits also saw a slight increase, and the company maintained a strong liquidity position, with its Liquidity Coverage Ratio (LCR) at 109.4%.

U.S. Bancorp filed an 8-K report on April 18, 2024, detailing outcomes from its annual shareholder meeting held on April 16, 2024. The primary focus of the report is the shareholder approval of the U.S. Bancorp 2024 Stock Incentive Plan. This plan allows for various equity-based awards to employees, officers, and non-employee directors, aiming to incentivize and retain key talent. Additionally, the report confirms the election of thirteen directors for one-year terms and provides detailed voting results for all four proposals considered at the meeting, including advisory approval of executive compensation and the ratification of Ernst & Young LLP as the independent auditor for fiscal year 2024. Investor attention should be drawn to the shareholder support for the new incentive plan and the company's governance practices.

U.S. Bancorp (USB) filed an 8-K on April 17, 2024, to report its financial results for the first quarter ended March 31, 2024. The report primarily consists of the press release (Exhibit 99.1) detailing these results, along with an accompanying earnings supplement (Exhibit 99.2) and investor presentation (Exhibit 99.3) made available for an upcoming conference call. Investors should note that while the press release itself is considered 'filed' under the Securities Exchange Act, the earnings supplement and presentation materials are being 'furnished' and do not carry the same regulatory implications unless specifically incorporated into other filings. The core financial performance data and forward-looking statements, which are crucial for investors, are contained within these attached exhibits.

U.S. Bancorp (USB) filed an 8-K on March 5, 2024, addressing two key areas. Firstly, it provided an update following a presentation at the RBC Capital Markets Global Financial Institutions Conference. During this presentation, CFO John C. Stern reaffirmed previously issued guidance for both the first quarter and full year 2024. Specifically, full-year net interest income is expected to be around $16.6 billion, with fee revenue projected to increase in the mid-single digits and core expenses remaining flat year-over-year. First-quarter net interest income guidance was reiterated to be between $4.0 billion and $4.1 billion. The second, and perhaps more significant, announcement concerns the resolution of a regulatory matter. U.S. Bank was notified by the Office of the Comptroller of the Currency (OCC) that the consent order related to technology and operational risk management deficiencies at MUFG Union Bank (MUB), which U.S. Bancorp acquired in December 2022, has been terminated. This consent order was a condition of the acquisition, and its successful resolution is a positive development for the company.

U.S. Bancorp (USB) has filed an 8-K report primarily to disclose information regarding an upcoming presentation at the Bank of America 2024 Financial Services Conference. Senior executives John C. Stern (CFO) and Timothy A. Welsh (Vice Chair, Consumer and Business Banking) are scheduled to present on February 22, 2024. The filing includes the presentation slides as an exhibit, which are accessible via the company's investor relations website. Investors can tune into a live webcast or access a replay for one year, providing an opportunity to gain insights into the company's current strategic discussions and financial outlook. While this filing does not contain new financial results or material business changes, it serves as a vehicle to disseminate information shared at the conference. Investors should note that the information furnished in this 8-K, including the presentation slides, is for informational purposes and is not deemed 'filed' for regulatory purposes, meaning it won't be subject to certain liabilities or automatically incorporated into future SEC filings. The key takeaway for investors is the opportunity to access forward-looking commentary and strategic insights directly from company leadership.

U.S. Bancorp (USB) has filed its 2023 Annual Report on Form 10-K, providing a comprehensive overview of its business operations, risks, and regulatory landscape. The company operates as a financial services holding company, offering a wide range of services including lending, depository services, cash management, capital markets, and investment management. A significant event for U.S. Bancorp in 2023 was the completion of its acquisition of MUFG Union Bank, N.A. (MUB), which has been fully integrated into its primary banking subsidiary, USBNA. The report details the company's business segments: Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support. Management emphasizes its commitment to human capital, focusing on diversity, equity, inclusion, competitive compensation, and employee development, with a global workforce of over 75,000 employees. The filing also extensively covers the company's robust risk management framework, cybersecurity protocols, and the complex regulatory environment governing large financial institutions, including capital requirements, liquidity standards, and compliance with various federal and state laws. U.S. Bancorp continues to navigate a competitive landscape shaped by technological advancements and evolving customer preferences, while managing inherent risks associated with economic conditions, interest rate changes, and credit quality.

U.S. Bancorp (USB) filed an 8-K on January 17, 2024, announcing its financial results for the quarter ended December 31, 2023. The report primarily consists of a press release detailing the Company's fourth-quarter performance and an accompanying earnings conference call presentation. Investors should note that the press release is considered "filed" with the SEC, meaning it is subject to liability under the Securities Exchange Act of 1934, while the presentation is "furnished," carrying less regulatory weight. This filing serves as the primary channel for disseminating key financial and operational updates for the period. Investors are encouraged to review both the press release (Exhibit 99.1) and the presentation (Exhibit 99.2) for a comprehensive understanding of U.S. Bancorp's fourth-quarter 2023 performance and any forward-looking statements made by management. The company also included a standard cautionary statement regarding factors that could influence future results.

U.S. Bancorp (USB) filed an 8-K on December 5, 2023, to announce that its CEO, Andy Cecere, and CFO, John C. Stern, will present at the Goldman Sachs U.S. Financial Services Conference on December 6, 2023. The filing includes the presentation slides as an exhibit, which will be discussed during the conference. Investors can access the slides and a live webcast of the presentation through the Investor Relations section of U.S. Bancorp's website. This 8-K is furnished under Regulation FD and is not considered "filed" for purposes of Section 18 of the Securities Exchange Act, nor will it be incorporated by reference into other filings unless expressly stated. The primary purpose of this report is to provide access to the presentation materials and webcast for interested investors.

U.S. Bancorp (USB) reported net income attributable to the company of $1.52 billion for the third quarter of 2023, a decrease of 15.9% compared to $1.81 billion in the same period last year. Diluted earnings per share were $0.91, down from $1.16 in the prior year's third quarter. The results were impacted by $284 million in merger and integration charges related to the acquisition of MUFG Union Bank, which reduced EPS by $0.14. Total net revenue increased by 11.2% to $7.03 billion, driven by a 10.7% rise in net interest income and an 11.9% increase in noninterest income. For the first nine months of 2023, net income was $4.58 billion, a 6.5% decrease from $4.90 billion in the same period of 2022, with diluted EPS at $2.79, down from $3.13. Total net revenue for the nine-month period grew by 19.2% to $21.38 billion. The company saw an increase in the provision for credit losses, up 42.3% for the quarter and significantly higher for the nine-month period, reflecting normalizing credit conditions and concerns in commercial real estate. Net charge-offs also increased year-over-year. The acquisition of MUFG Union Bank, completed in December 2022, continues to impact expenses with ongoing integration costs. The company's capital ratios remain strong, exceeding regulatory requirements, with Common Equity Tier 1 capital at 9.7% (or 9.5% fully phased-in CECL) at quarter-end. Management is focused on integrating the acquired bank while managing credit quality and navigating the current economic environment.

U.S. Bancorp (USB) filed a Current Report on Form 8-K on November 1, 2023, primarily to disclose information regarding an upcoming presentation at the BancAnalysts Association of Boston Conference. Senior executives John C. Stern (CFO) and Gunjan Kedia (Vice Chair) are scheduled to present on November 2, 2023. Investors interested in the company's strategic direction, financial performance, and outlook should review the presentation slides attached as Exhibit 99.1. The attached presentation slides are the core of this filing, offering insights into topics to be discussed by the company's leadership. While the 8-K itself does not contain new financial data, it serves as a vehicle to distribute forward-looking materials. Investors can access these slides, a live webcast, and a replay of the presentation through U.S. Bancorp's Investor Relations website.

U.S. Bancorp (USB) announced on October 18, 2023, the adoption of its Amended and Restated Bylaws, effective immediately on October 17, 2023. These changes are part of the company's routine review of its corporate governance documents and are largely technical in nature, aimed at aligning with current regulatory requirements and best practices. The primary focus of these amendments is to update the company's bylaws in connection with the Securities and Exchange Commission's (SEC) Universal Proxy Rules. This includes new requirements for stockholders providing proxy solicitations, such as timely certification of compliance with Universal Proxy Rules and the use of a non-white proxy card color. The amendments also refine existing provisions regarding stockholder nominations and proposals, clarifying information requirements and the authority of the Board of Directors regarding meeting conduct and postponements. These adjustments are designed to ensure smoother and more compliant shareholder meetings.

U.S. Bancorp (USB) filed an 8-K on October 18, 2023, announcing its financial results for the quarter ended September 30, 2023. The filing includes a press release (Exhibit 99.1) and an earnings conference call presentation (Exhibit 99.2), both of which contain important financial information and forward-looking statements. Investors should note that the press release is considered "filed" with the SEC, meaning its contents are subject to specific disclosure rules. The earnings presentation is "furnished," providing additional context but with less regulatory implication regarding incorporation into future filings. Both documents contain cautionary statements regarding factors that could impact future financial performance.