USB

#174
U.S. Bancorp Common Stock
61.5 9 USD
-0.01%
Market Price
Settore: Finanziario
Base: USD
Valuta di Profitto: USD
Intervallo Giornaliero
61.59
61.82
Intervallo Annuale
45.02
66.08
Variazione giornaliera
-1.41%
Variazione Mensile
-2.79%
Variazione di 6 mesi
+14.86%
Variazione Annuale
+27.44%
Chiusura Precedente
62.4 7
Open
61.6 2
Minimo
61.5 9
Massimo
61.8 2
Volume
3 265
Apri il grafico completo

Financials

Panoramica Estratto Conto Statistiche Dividendi Documents

2026

Current report, Q3 FY2026
US BANCORP current report, Q3 FY2026
8-K
Institutional holdings, Q2 FY2026
US BANCORP institutional holdings, Q2 FY2026
13F-HR
Quarterly report, Q2 FY2026
US BANCORP quarterly report, Q2 FY2026
10-Q
INFORMATION TABLE, Q2 FY2026
US BANCORP INFORMATION TABLE, Q2 FY2026
INFORMATION TABLE
Current report, Q2 FY2026
US BANCORP current report, Q2 FY2026
8-K
Current report, Q2 FY2026
US BANCORP current report, Q2 FY2026
8-K
Current report, Q2 FY2026
US BANCORP current report, Q2 FY2026
8-K
Current report, Q2 FY2026
US BANCORP current report, Q2 FY2026
8-K
Institutional holdings, Q1 FY2026
US BANCORP institutional holdings, Q1 FY2026
13F-HR
Quarterly report, Q1 FY2026
US BANCORP quarterly report, Q1 FY2026
10-Q

US BANCORP current report, Q1 FY1994

Full document

Business Context and Reporting Period

This Form 8-K, filed on January 18, 1994, reports the year-end 1993 earnings summary for First Bank System, Inc. (FBS), a regional bank holding company headquartered in Minneapolis. The filing covers the fourth quarter and full year ended December 31, 1993. The company operates through nine banks and other financial companies with over 200 offices primarily in Minnesota, Colorado, Montana, North Dakota, South Dakota, and Wisconsin.

Key Financial Metrics

Revenue and Profitability

  • Net Income (4Q 1993): $95.9 million ($0.81 per share), compared to a loss of $17.1 million in 4Q 1992.
  • Net Income (Full Year 1993): $298.0 million ($2.39 per share), compared to $311.8 million in 1992.
  • Adjusted Income (Excluding Merger Charges): $348.0 million for 1993, a 47.3% increase from the prior year's adjusted income of $236.3 million.
  • Net Interest Income (Taxable-Equivalent): $293.3 million for 4Q 1993 (up 11.4%); $1.15 billion for full year 1993 (up 13.0%).
  • Net Interest Margin: 5.00% for 4Q 1993; 5.07% for full year 1993.
  • Return on Average Assets (ROA): 1.45% (4Q 1993); 1.36% (Full Year 1993).
  • Return on Average Common Equity (ROE): 18.3% (4Q 1993); 16.4% (Full Year 1993).

Expenses and Efficiency

  • Noninterest Expense (4Q 1993): $255.3 million.
  • Noninterest Expense (Full Year 1993): $1.03 billion (excluding merger charges).
  • Efficiency Ratio: Improved to 58.1% in 4Q 1993 and 59.8% for the full year (excluding merger costs), down from 64.6% and 64.7% respectively in 1992.
  • Provision for Credit Losses: $27.0 million (4Q 1993); $125.2 million (Full Year 1993).

Balance Sheet and Liquidity

  • Total Assets: $26.385 billion at December 31, 1993.
  • Total Loans: $18.779 billion.
  • Total Deposits: $21.031 billion.
  • Long-term Debt: $1.015 billion.
  • Capital Ratios: Tier 1 capital ratio of 9.2%; Total capital ratio of 13.3%.
  • Book Value per Share: $18.09.

Asset Quality

  • Nonperforming Assets: $226.0 million at year-end 1993, a 45.2% decrease from 1992.
  • Nonperforming Loans: $157.6 million.
  • Allowance for Credit Losses: $423.2 million, covering 269% of nonperforming loans.
  • Net Charge-offs: $31.0 million (4Q 1993); $150.0 million (Full Year 1993).

Material Changes vs. Prior Period

The company reported a significant turnaround in the fourth quarter, moving from a net loss in 1992 to a profit of $95.9 million in 1993. This improvement was driven by a $30 million increase in net interest income and a $12.3 million decrease in the provision for credit losses. For the full year, earnings before merger-related charges increased by 47.3%.

Noninterest expenses declined significantly on a pro forma basis due to the successful integration of recent acquisitions, including Bank Shares Incorporated (BSI). The efficiency ratio improved by over 6 percentage points for the year. Credit quality metrics strengthened substantially, with nonperforming assets dropping by nearly half compared to the prior year.

Guidance, Outlook, and Management Commentary

Management highlighted the successful integration of three major acquisitions and significant cost take-outs. CEO John F. Grundhofer stated the company is well-positioned to leverage technology for growth in core businesses. The company aims to achieve an efficiency ratio in the low-50s, having already broken the 60% threshold.

Acquisitions and Transactions:

  • Boulevard Bancorp: Agreed to purchase in September 1993; expected to close early in 1994. FBS plans to repurchase shares to be issued in this transaction.
  • Other Acquisitions: Agreements announced in December 1993 to purchase First Financial Investors, Inc. and United Bank of Bismarck, expected to close in Q1 or Q2 1994.
  • J.P. Morgan Trust Business: Agreed to purchase in January 1994; expected to close in Q2 1994.

Capital Actions: The company repurchased $187.1 million of common stock during 1993 and redeemed $100 million of preferred stock in the fourth quarter. The adoption of SFAS No. 115 resulted in a $34 million unrealized gain included in shareholders' equity but had no effect on 1993 earnings.

Investor Verification Checklist

  • Verify the impact of the pending Boulevard Bancorp acquisition on future earnings per share and capital ratios.
  • Confirm the sustainability of the improved efficiency ratio (58.1%) as integration costs normalize.
  • Monitor the $700 million low-margin extension of credit to mortgage banking firms, which is expected to remain outstanding until Q3 1994.
  • Review the composition of the $226 million in nonperforming assets to ensure continued improvement in credit quality.
  • Assess the effect of the $50 million merger-related charge recorded in 1993 on the reported net income versus the adjusted income of $348 million.