neighborhood background image
Man and woman in a business park background image
People walking in a Square
3 young adults cleaning a park
Financial Summary
Year Ended December 31
(Dollars and Shares in Millions, Except Per Share Data)
2014 2013
Total net revenue (taxable-equivalent basis) $20,161 $19,602
Noninterest expense 10,715 10,274
Provision for credit losses 1,229 1,340
Income taxes and taxable-equivalent adjustments 2,309 2,256
Net income 5,908 5,732
Net (income) loss attributable to noncontrolling interests (57) 104
Net income attributable to U.S. Bancorp $5,851 $5,836
Net income applicable to U.S. Bancorp common shareholders $5,583 $5,552
Per Common Share
Per Common Share 2014 2013
Earnings per share $3.10 $3.02
Diluted earnings per share 3.08 3.00
Dividends declared per share .965 .885
Book value per share 21.68 19.92
Market value per share 44.95 40.40
Average common shares outstanding 1,803 1,839
Average diluted common shares outstanding 1,813 1,849
Financial Ratios
Financial Ratios 2014 2013
Return on average assets 1.54% 1.65%
Return on average common equity 14.7 15.8
Net interest margin (taxable-equivalent basis) 3.23 3.44
Efficiency ratio (a) 53.2 52.4
Average Balances
Average Balances 2014 2013
Loans $241,692 $227,474
Investment securities 90,327 75,046
Earning assets 340,994 315,139
Assets 380,004 352,680
Deposits 266,640 250,457
Total U.S. Bancorp shareholders’ equity 42,837 39,917
Period End Balances
Period End Balances 2014 2013
Loans $247,851 $235,235
Allowance for credit losses 4,375 4,537
Investment securities 101,043 79,855
Assets 402,529 364,021
Deposits 282,733 262,123
Total U.S. Bancorp shareholders’ equity 43,479 41,113
Capital Ratios
Capital Ratios 2014 2013
Common equity tier 1 capital (b) 9.7% 9.4%
Tier 1 capital (b) 11.3 11.2
Total risk-based capital (b) 13.6 13.2
Leverage (b) 9.3 9.6
Common equity tier 1 capital to risk-weighted assets for the Basel III transitional advanced approaches 12.4
Common equity tier 1 capital to risk-weighted assets estimated for the Basel III fully implemented standardized approach (c) 9.0 8.8
Common equity tier 1 capital to risk-weighted assets estimated for the Basel III fully implemented advanced approaches 11.8
Tangible common equity to tangible assets 7.5 7.7
Tangible common equity to risk-weighted assets 9.3 9.1
  • Computed as noninterest expense divided by the sum of net interest income on a taxable-equivalent basis and noninterest income excluding net securities gains (losses).
  • December 31, 2014, calculated under the Basel III transitional standardized approach; December 31, 2013, calculated under Basel I.
  • December 31, 2014 and 2013, calculated using final rules for the Basel III fully implemented standardized approach.

53.2
%
efficiency ratio

Man and woman looking at financials
Share