Press Releases

U.S. Bancorp (NYSE: USB) today reported its financial results for the third quarter of 2008. Diluted earnings per common share of $.32 in the current quarter were lower than the $.62 of diluted earnings per common share reported for the third quarter of 2007. Included in the results were securities valuation losses representing $.18 per diluted common share and an incremental provision for credit losses equal to $.10 per diluted common share. The Company's fundamental business performance continues to be strong, despite the challenging financial markets. Results for the third quarter included strong growth year-over-year in net interest income, average loans and deposits and fee revenue, as customers continued to seek banks with strong capital and the ability to provide them with financial products and services during this period of economic uncertainty. Highlights for the third quarter of 2008 included: