The Banking and Strategy Initiative

Chillin' out till it needs to be funded

Bank Earnings Season 2Q 2014: US Bancorp gets ready for the mantle

US Bank today reported $1.5 Bln in Net Income, among the few in the positive zone after Q1, and increased EPS of $0.78 with receding business competition from both Citi and Chase, making them a long awaited new comer ( up and comer) The bank is reporting assets and deposits data including its Charter one acquisition in Chicago

Growth in Commercial Loans is indeed in the double digits over the year and more than 5% higher over Q1. RE Developer Loans have become stronger int he first half of the year. New Lending includes $38 Bln in these CRE commitments and another $14 Bln in Residential mortgage commitments

Banks efficiency scores at 51% meant a simple win in ROA, the bank computing over average assets in the release at 1.60% which still means it keeps its newly gained lead over PNC

Credit quality of the admittedly smaller portfolio remains in the best of the best category, with credit losses at just 0.59% for US Bank

Dividend is up to $0.98 per share annualised and repurchase budgets for the quarter continued higher at over $600 mln, a big bump in mid May in trading prices with big banks ready for a tuck in of new business, JP Morgan withdrawing from FHA markets

Advertisements

Information

This entry was posted on July 16, 2014 by in Uncategorized.

Archives

%d bloggers like this: