FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


U.S. Bancorp Reports Stable Lease Financing Activity for Q1 2012

April 18, 2012, 07:30 AM
Filed Under: Corporate Earnings
Related: U.S. Bancorp

U.S. Bancorp reported net income of $1,338 million for the first quarter of 2012. Earnings for the first quarter of 2012 were driven by year-over-year growth in total net revenue and a lower provision for credit losses.
Lease financing remained relatively flat, declining slightly from $5,834 million in Q4 2011 to $5,822 million in Q1 2012. First quarter 2012 lease financing results represent a decline of 3.5% versus Q1 2011 results ($6,030 million).

Net Charge offs for lease financing declined from $21 million in Q4 2011 to $8 million in Q1 2012.  The first quarter 2012 charge-offs represent a decline of 42.8% versus charge-offs recorded in Q1 2011 ($14 million).

To read the full press release, click here:

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.