U.S. Bancorp Interest Income Dips as Customer Caution Continues

U.S. Bancorp is forecasting a decline in net interest income for this year. In announcing its earnings Wednesday (April 17), the lender said it anticipates net interest income (NII) of $16.1 billion to $16.4 billion, down from earlier projection of at least $16.6 billion for the year.The bank’s NII for the quarter came to $3.9 billion, down 3.1% for the fourth quarter of 2023, and 14% year over year. This was “due to the impact of higher interest rates on deposit mix and pricing, partially offset by higher ...