Keyword: usbancorp

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  • US Bancorp profit falls 18%, credit loses triple(this is very bad news)

    07/15/2008 6:54:49 AM PDT · by janetjanet998 · 78 replies · 29+ views
    Reuters via yahoo ^ | 7/15/2008 | Jonathan Stempel
    NEW YORK (Reuters) - U.S. Bancorp (NYSE:USB - News) posted a larger-than-expected 18 percent decline in quarterly profit due to mounting housing-related credit losses, and said that tough economic conditions will cause bad loans to increase further. The results, from a bank that has avoided the massive credit losses afflicting many rivals, do not augur well for the rest of the nation's banks,