US Bancorp: Credit Card Volumes Surge, Loan Delinquencies Stabilize

CEO Andrew Cecere said on the conference call with analysts that "credit quality results were in line with our expectations as we saw stabilization in delinquency rates and a modest increase in NPAs [non performing assets." Stern also said on the call that "we continue to emphasize stickier relationship-based deposit generation. The pace of decline in non-interest bearing balances continued to slow this quarter," as the company was successful in "retaining and growing core operational relationships across t ...