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The chart shows US Bancorp’s Revenue Breakdown, split between Interest Income and Non-Interest Income, reported quarterly from Q1 2016 onwards.
The following table shows US Bancorp’s Revenue Breakdown in some of the recent quarters:
|Segment||2022 Q1||2022 Q2||2022 Q3||2022 Q4||Contribution (2022 Q4)|
(All figures are in millions, except percentages)
Interest income is the term used to describe the revenue or earnings that a firm generates from the interest payments it receives on loans, investments, or other financial instruments that bear interest.
Income from Net Interest in the first quarter of 2023 increased by $1.5 billion (45.9%), to $4.7 billion, on a taxable-equivalent basis. The acquisition of MUB and the impact of higher interest rates on earning assets were the leading causes of the increase. Average earning assets increased by $77.8 billion (14.7%) compared to the first quarter of 2022 as a result of increases in loans and interest-bearing bank deposits, which were slightly offset by falls in investment securities.
The company’s interest income is increasing from quarter to quarter in 2023. In Q3, interest income was $4,728 million, higher than 38.32% compared to Q2 interest income of $3418 million. Again in Q4, interest income increased by 26.35% compared to Q3 interest income.
The total contribution of interest income in the year 2022 was 65.3% compared to net income.
Non-interest income is defined as a firm’s revenue or income that does not come from financial transactions that bear interest. It includes a broad range of resources and actions that, separately from interest-related activities, add to a company’s overall income.
Some of the sources of non-interest income are service charges, fees and commissions, insurance premiums, and investment income.
In the first quarter of 2023, non-interest income was $2.39 billion, up by $111 million (4.6%) over the corresponding period in 2022. The improvement over the prior year was due to higher trust and investment management fees, income from payment services, and revenue from commercial goods. Lower revenue from mortgage banking and losses from the sale of securities somewhat offset these positive developments.
In Q3, non-interest income was $2469 million, higher than 3.04% compared to Q2 interest income of $2396 million. And in Q4, non-interest income decreased by 17.25% compared to Q3 non-interest income.
The total contribution of non-interest income in the year 2022 was 34.7% compared to net income.
About US Bancorp
US Bancorp’s is a financial services holding company that serves millions of local, national, and global customers. The companies are headquartered in Minneapolis, Minnesota.
The Company offers a full range of financial services, including lending and depository services, cash management, capital markets, trust and investment management services, credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage, and leasing.
A wide variety of asset management and fiduciary services are offered by US Bancorp’s bank to individuals, estates, foundations, corporate entities, and non-profit organizations.
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