U.S. Bancorp reported net income of nearly $1.48 billion for the fourth quarter of 2015, or 80 cents per share, compared with almost $1.49 billion, or 79 cents per share, in the fourth quarter of 2014. For the year, the Minneapolis-based parent of U.S. Bank reported profits of nearly $5.9 billion, a 0.5 percent gain from the prior year. Full-year earnings per share were $3.16, up 2.6 percent from 2014. On two key performance metrics, U.S. Bancorp reported return on average assets of 1.44 percent and return on average common equity of 14 percent, both well above industry standards. In the fourth quarter, loans increased 4.2 percent over the fourth quarter of 2014, led by a 9 percent increase in commercial loans and a 13 percent increase in auto loans. Also in the fourth quarter, deposits were 6.9 percent higher than in the year-ago period.

 Read a recent article featuring regional U.S. Bank president Mike Helak and how his operation makes banking ‘personal and meaningful’ onBusinessRecord.com.