Tag Archives: U.S. Bancorp

The Q4 earnings statements of U.S. Bancorp and Citigroup reported very different results for their mortgage sectors.

Most banks and other financial firms reported dismal first quarters compared to a year ago. U.S. Bancorp was different, however.

For the most part, when being investigated over their pre-crisis residential mortgage-backed securities practices, the nation’s largest banks have come out having to pay billions of dollars in settlements and penalties.

Both U.S. Bancorp and PNC Financial Services experienced slight declines in net income for the fourth quarter of 2015, and the results for mortgage banking revenues at both banks followed right along,

Citigroup reported $4.3 billion in net income for the third quarter, or $1.35 per diluted share, up 53 percent from $2.8 billion, or $0.88 per share, in the same quarter a year ago. The bank also has revenues that reached $18.7 billion, down from $19.7 billion last year.