U.S. Bancorp profits rise as loan quality improves

Statesman staffOctober 16, 2013 

U.S. Bancorp says its net income in the third quarter neared $1.5 billion as the banking company boosted real-estate and commercial loans and improved the quality of its loan assets.

Earnings totaled $1.47 billion, or 76 cents per share, compared with $1.47 billion, or 74 cents a share, in the third quarter of 2012.

U.S. Bank has 39 branches and employs more than 400 people in Treasure Valley. It is the second-largest bank in the valley measured by deposits.

The earnings "reflect our continuing ability to manage through the current uncertain and slow-growing economy," said Richard K. Davis, the chairman, president and CEO of the Minneapolis-based company. The bank's diversified mix of businesses reduced the impact of the pullback in mortgage banking, Davis said.

Read the earnings news release.

Idaho Statesman is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service