U.S. Bancorp reported record annual profits of $5.6 billion in 2012, up 15.9 percent from 2011.

Net income at U.S. Bancorp rose 5.2 percent in the last quarter of 2012.

Revenues were a record $20.3 billion, up 6.2 percent from 2011.

In the fourth quarter, U.S. Bancorp reported $71.5 billion in new lending activity. Average deposits grew by 9.2 percent, and average total loans reached $220.2 billion, up 6.4 percent from 2011.

U.S. Bank is the second largest bank in the Treasure Valley based on deposits, according to the Federal Deposit Insurance Corp. It holds 19 percent of the market. Wells Fargo is the leader with 27 percent of the market.

U.S. Bank has nearly 1,400 employees in Idaho, including more than 400 in the Treasure Valley.