US Bancorp Reports Q4 EPS $0.72 vs $0.75 Est

U.S. Bancorp

today reported net income of $1,420 million for the fourth quarter of 2012, or $.72 per diluted common share, and $5,647 million of net income, or $2.84 per diluted common share, for full year 2012. Included in the fourth quarter of 2012 results was a previously disclosed $80 million expense accrual for a mortgage foreclosure-related regulatory settlement, which reduced quarterly diluted earnings per common share by $.03. Summary highlights for the full year of 2012 included: Record full year 2012 net income of $5.6 billion, 15.9 percent higher than 2011