U.S. Bancorp reports 3% loan growth, some fee income declines

Mortgage

U.S. Bancorp’s second-quarter earnings took a dip as one-time items overshadowed the benefits of higher interest rates.

The $463.8 billion-asset company reported a profit of $1.5 billion, down 2% from a year earlier. Earnings per share were 85 cents, or a penny higher than the consensus of analyst estimates compiled by FactSet Research Systems.

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