U.S. Bank earnings up through third quarter
Minneapolis-based U.S. Bancorp, parent of U.S. Bank, said today profits grew 1.2 percent in the year that ended Sept. 30 to $1.49 billion from $1.47 billion. The increase in net income year-over-year was due to higher net interest income and noninterest income, along with a reduction in the provision for credit losses, according to a release. Loan volume, excluding student loans, was up 3.8 percent from the third quarter of 2014. U.S. Bancorp reported return on average assets of 1.44 percent and return on average common equity of 14.1 percent.
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