U.S. Bancorp(US:USB)2024-01-17 13:05Financial Performance - U S Bancorp reported adjusted earnings per share of $0 99[7], compared to reported earnings per share of $0 49[7] - Adjusted net revenue reached $6 9 billion[7], a 12 1% year-over-year increase[7] - The company's CET1 ratio was 9 9%[7], a 20 bps increase compared to 3Q23[7] - Tangible book value per share was $22 30[7], a 7 0% increase compared to 3Q23[7] Balance Sheet and Credit Quality - Net interest income was $4 142 billion[8], a decrease of 3 0% compared to 3Q23[8] - Noninterest income was $2 620 billion[8] - The NPA ratio was 0 40%[8] - The net charge-off ratio was 0 49%[8] Notable Items - 4Q23 included $70 million of favorable discrete tax settlements[10] - 4Q23 was impacted by a rebalancing of the investment securities portfolio[13] - Merger and integration charges related to the Union Bank acquisition were $171 million[29] - 4Q23 was impacted by a $734 million FDIC special assessment and a $110 million charitable contribution[14]