Financial Summary
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Year Ended December 31 (Dollars and Shares in Millions, Except Per Share Data) |
2009 | 2008 | 2007 | 2009 v 2008 |
2008 v 2007 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total net revenue (taxable-equivalent basis) | $ | 16,668 | $ | 14,677 | $ | 14,060 | 13.6 | % | 4.4 | % | |||
| Noninterest expense | 8,281 | 7,348 | 6,907 | 12.7 | 6.4 | ||||||||
| Provision for credit losses | 5,557 | 3,096 | 792 | 79.5 | * | ||||||||
| Income taxes and taxable-equivalent adjustments | 593 | 1,221 | 1,958 | (51.4 | ) | (37.6 | ) | ||||||
| Net Income | 2,237 | 3,012 | 4,403 | (25.7 | ) | (31.6 | ) | ||||||
| Net Income attributable to noncontrolling interests | (32 | ) | (66 | ) | (79 | ) | 51.5 | 16.5 | |||||
| Net Income attributable to U.S. Bancorp | $ | 2,205 | $ | 2,946 | $ | 4,324 | (25.2 | ) | (31.9 | ) | |||
| Net Income applicable to U.S. Bancorp common shareholders | $ | 1,803 | $ | 2,819 | $ | 4,258 | (36.0 | ) | (33.8 | ) | |||
Per Common Share |
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| Earnings per share | $ | .97 | $ | 1.62 | $ | 2.45 | (40.1 | )% | (33.9 | )% | |||
| Diluted earnings per share | $ | .97 | $ | 1.61 | $ | 2.42 | (39.8 | ) | (33.5 | ) | |||
| Dividends declared per share | $ | .200 | $ | 1.700 | $ | 1.625 | (88.2 | ) | 4.6 | ||||
| Book value per share | $ | 12.79 | $ | 10.47 | $ | 11.60 | 22.2 | (9.7 | ) | ||||
| Market value per share | $ | 22.51 | $ | 25.01 | $ | 31.74 | (10.0 | ) | (21.2 | ) | |||
| Average common shares outstanding | 1,851 | 1,742 | 1,735 | 6.3 | .4 | ||||||||
| Average diluted common shares outstanding | 1,859 | 1,756 | 1,756 | 5.9 | — | ||||||||
Financial Ratios |
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| Return on average assets | .82 | % | 1.21 | % | 1.93 | % | |||||||
| Return on average common equity | 8.2 | 13.9 | 21.3 | ||||||||||
| Net interest margin (taxable-equivalent basis) | 3.67 | 3.66 | 3.47 | ||||||||||
| Efficiency ratio (a) | 48.4 | 46.9 | 49.2 | ||||||||||
Average Balances |
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| Loans | $ | 185,805 | $ | 165,552 | $ | 147,348 | 12.2 | % | 12.4 | % | |||
| Investment securities | 42,809 | 42,850 | 41,313 | (.1 | ) | 3.7 | |||||||
| Earning assets | 237,287 | 215,046 | 194,683 | 10.3 | 10.5 | ||||||||
| Assets | 268,360 | 244,400 | 223,621 | 9.8 | 9.3 | ||||||||
| Deposits | 167,801 | 136,184 | 121,075 | 23.2 | 12.5 | ||||||||
| Total U.S. Bancorp shareholders’ equity | 26,307 | 22,570 | 20,997 | 16.6 | 7.5 | ||||||||
Period End Balances |
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| Loans | $ | 195,408 | $ | 185,229 | $ | 153,827 | 5.5 | % | 20.4 | % | |||
| Allowance for credit losses | 5,264 | 3,639 | 2,260 | 44.7 | 61.0 | ||||||||
| Investment securities | 44,768 | 39,521 | 43,116 | 13.3 | (8.3 | ) | |||||||
| Assets | 281,176 | 265,912 | 237,615 | 5.7 | 11.9 | ||||||||
| Deposits | 183,242 | 159,350 | 131,445 | 15.0 | 21.2 | ||||||||
| Total U.S. Bancorp shareholders’ equity | 25,963 | 26,300 | 21,046 | (1.3 | ) | 25.0 | |||||||
| Capital ratios | |||||||||||||
| Tier 1 capital | 9.6 | % | 10.6 | % | 8.3 | % | |||||||
| Total risk-based capital | 12.9 | 14.3 | 12.2 | ||||||||||
| Leverage | 8.5 | 9.8 | 7.9 | ||||||||||
| Tier 1 common equity to risk-weighted assets(b) | 6.8 | 5.1 | 5.6 | ||||||||||
| Tangible common equity to tangible assets(b) | 5.3 | 3.3 | 4.8 | ||||||||||
| Tangible common equity to risk-weighted assets(b) | 6.1 | 3.7 | 5.1 | ||||||||||
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* Not meaningful |
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