U.S. Bancorp reports higher third-quarter profit and raises 2026 guidance

U.S. Bancorp reported third-quarter 2026 net income of $2.202 billion, or $1.34 per diluted share, for the period ended September 30, up 10.0% and 9.8% year over year, respectively, while record net revenue reached $7.970 billion. Loan balances grew 8.0% and deposits 2.9% year over year, but the provision for credit losses rose to $654 million, including $135 million tied to a purchased small-business credit-card portfolio; the bank raised its full-year 2026 net interest income growth outlook to 7%-9% and total net revenue outlook to 8%-9%.