0813 ET - US Bancorp reports 4Q earnings of $1.66 billion, or $1.01 a share. That's up from $847 million, or 49 cents a share, in the same quarter a year ago. The gain was driven by a sharp 17% drop in noninterest expenses, with net interest income coming in slightly higher and noninterest income rising 8% from a year ago. Excluding notable items, including $109 million in lease impairments and actions taken to increase operational efficiency, adjusted earnings were $1.07 a share. US Bancorp off nearly 3% in premarket trading. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 08:13 ET (13:13 GMT)
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