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Fees drive increased profits at U.S. Bank
American Banker· 2025-10-16 13:28
Bottom line: A double-digit spike in fee revenue pushed the company's third-quarter net income past $2 billion.Expert quote: "Solid net interest income growth and margin expansion, as well as continued momentum across our fee businesses and prudent expense management supported double-digit net income growth," CEO Gunjan Kedia said.Key insight: Mortgage banking revenues rose 16% to $180 million.U.S. Bancorp reported third-quarter net income of $2 billion Thursday, up 17% over the comparable 2024 result as fe ...