U.S. Bancorp (USB) said its first-quarter net income increased year-over-year driven by higher total net revenue, partially offset by higher provision expense, and noninterest expense, including the merger and integration-related charges. Pretax income excluding merger and integration related charges in the quarter increased 23.0 percent compared with a year ago. Net interest income increased 45.9 percent on a year-over-year taxable-equivalent basis due to the impact of rising interest rates on earning assets and the impacts of the MUB acquisition. The net interest margin increased to 3.10 percent from 2.44 percent. Noninterest income increased 4.6 percent from previous year.
from RTT - Earnings https://ift.tt/G18oF5C
via IFTTT
No comments:
Post a Comment