U.S. Bancorp reports 10% earnings growth and raises 2026 guidance

U.S. Bancorp reported third-quarter 2026 net income of $2.202 billion, or $1.34 per diluted share, up 10.0% and 9.8% year over year, respectively, while net revenue reached a record $7.970 billion. Loan balances rose 8.0% and deposits 2.9% year over year, although the provision for credit losses increased to $654 million, including $135 million tied to a purchased small-business credit card portfolio. The company raised its full-year 2026 guidance to 7%–9% net interest income growth, 6%–7% total net revenue growth, and roughly 300 basis points of positive operating leverage, with BTIG expected to contribute about $200 million of quarterly net revenue.