U.S. Bancorp Reports $1.82 Billion Net Income for Q2 2025, Up 13% Year-Over-Year

U.S. Bancorp reported a net income of $1.82 billion for the second quarter of 2025, translating to earnings of $1.11 per diluted share, marking a 13% increase from the $1.61 billion, or $0.97 per share, recorded in the same quarter of 2024. For the first half of 2025, net income attributable to U.S. Bancorp reached $3.54 billion, up 20.6% from $2.92 billion in the prior year. The company’s total net revenue for the second quarter was $7.00 billion, a 2% increase from $6.87 billion in the previous year, driven by a 0.7% rise in net interest income and a 3.9% increase in noninterest income.

Comparatively, U.S. Bancorp's net interest income for the second quarter of 2025 was $4.05 billion, slightly up from $4.02 billion in the same period last year. The increase was attributed to fixed asset repricing and a favorable loan mix, although it faced some pressure from deposit mix and pricing. Noninterest income also saw growth, reaching $2.92 billion, primarily due to higher trust and investment management fees, as well as increased payment services revenue. The company’s noninterest expenses decreased by 0.8% to $4.18 billion, reflecting lower compensation and employee benefits costs.

In terms of operational metrics, U.S. Bancorp's total loans stood at $380.24 billion as of June 30, 2025, a marginal increase from $379.83 billion at the end of 2024. The company reported a decrease in nonperforming assets to $1.68 billion, down from $1.83 billion at the end of 2024, indicating improved credit quality. The allowance for credit losses was $7.86 billion, slightly lower than the previous year, reflecting the impact of loan portfolio sales and enhanced credit quality. The company’s total deposits increased to $518.72 billion, compared to $518.31 billion at the end of 2024.

Strategically, U.S. Bancorp has been focusing on enhancing its product offerings and expanding its market presence. The company continues to invest in technology and infrastructure to improve customer experience and operational efficiency. Additionally, U.S. Bancorp has authorized a share repurchase program of up to $5 billion, which reflects its commitment to returning value to shareholders. Looking ahead, the company anticipates continued revenue growth driven by its diversified business model, although it remains cautious about potential economic headwinds, including interest rate fluctuations and market volatility.