U.S. Bancorp Expects Net Interest Income to Drop in 4Q
October 16 2019 - 10:27AM
Dow Jones News
By Allison Prang
U.S. Bancorp (USB) is expecting net interest income to slip in
the fourth quarter.
Chief Financial Officer Terry Dolan told analysts Wednesday that
the company expects fully-taxable equivalent net interest income to
fall in the low-single digits in the fourth quarter from the
comparable quarter a year ago. It also expects fee income to
increase in the mid-single digits on a core basis, he said.
The company is still expecting its operating leverage to be
positive on a core basis this year, Mr. Dolan said. It also still
expects a taxable equivalent tax rate of about 20%, Mr. Dolan
said.
The regional lender also expects its "loan loss provision
expense growth will continue to be reflective of loan growth," Mr.
Dolan said. It also expects credit quality, when compared to the
third quarter, will stay stable this quarter, he said.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 16, 2019 10:12 ET (14:12 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
US Bancorp (NYSE:USB)
Historical Stock Chart
From Aug 2024 to Sep 2024
US Bancorp (NYSE:USB)
Historical Stock Chart
From Sep 2023 to Sep 2024