U.S. Bank posts flat third-quarter earnings

Minneapolis-based U.S. Bancorp (NYSE: USB) reported roughly flat earnings of $1.5 billion for the three months ended Sept. 30, compared to third-quarter 2013.

The company, which operates eight U.S. Bank branches in Springfield, improved its diluted share earnings 2 cents to 78 cents per share, according to a news release.

Third-quarter financial notes:

• U.S. Bank's net interest income was flat at $2.7 billion, compared to the same quarter of 2013.
• Net revenue improved 2 percent to $5 billion. However, it was down 3.8 percent from $5.2 billion in the second quarter.
• Loans totaled $243.9 billion at the end of the quarter, a 6.3 percent improvement.

In the Springfield metropolitan statistical area, U.S. Bank held $306.5 million in deposits as of June 30, ranking the company No. 7 in the market, according to recently released Federal Deposit Insurance Corp. data. The company held 3.7 percent of total deposits in the five-county area.

As of Sept. 30, U.S. Bank reported $391 billion in assets and $273 billion in deposits. The company operates 3,177 branches in 25 states, according to the release.

USB shares were trading at $40.42 as of 10:32 a.m., compared to a 52-week range of $37.22 to $43.92.