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.