US BANCORP \DE\ Earnings Summary — Q2 FY2026

• Achieved record net revenue of $7.7 billion, driven by a 7.5% YoY increase in taxable-equivalent net interest income and a 13.7% jump in noninterest income.
• Successfully completed the acquisition of BTIG on June 1, 2026, contributing $98 million in fee revenue and enhancing capital markets capabilities.
• Delivered 400 basis points of positive operating leverage compared to the prior year quarter, supported by productivity gains and broad-based fee momentum.
• Average total loans grew 7.1% YoY to $405.5 billion, led by commercial and commercial real estate portfolio expansions.
• Credit quality showed improvement with a lower net charge-off ratio of 0.53% compared to 0.59% in the prior year quarter.
• Net interest margin (NIM) expanded to 2.79%, up 13 basis points YoY, benefiting from loan growth and fixed asset repricing.

Management enters the second half of the year with a favorable economic backdrop and strong momentum, aiming to leverage its diversified business mix and the newly integrated BTIG capabilities to deepen client relationships and deliver sustainable growth.

Improving

Performance exceeded prior periods across revenue, NIM, and profitability metrics, while the strategic BTIG acquisition immediately contributed to the top line.

The company maintains a positive outlook for the remainder of 2026, focusing on capital markets momentum and expanding their All-in-One payments platform through Elavon to drive fee-based revenue.