The following highlights were excerpted from the news release:
Net interest margin of 3.10% for Q3/17 was 12 basis points higher than Q3/16 and 6 basis points higher than Q2/17.
Nonperforming assets decreased 24.8% on a year-over-year basis and 7.3% on a linked quarter basis
Average total commercial loans grew 4.6% over Q3/16
Q3/17 average lease financing balances were $5,556 million, up 4.8% from $5,302 million a year earlier. Year-to-date 2017 average balances of $5,530 million were up 5% from $5,265 million a year earlier
U.S. Bancorp President and CEO Andy Cecere said, “In the third quarter, U.S. Bancorp delivered industry leading results, supported by record revenue, net income and earning per diluted share. We produced best-in-class performance metrics, including return on average assets of 1.38%, return on average common equity of 13.6% and an improving efficiency ratio of 54.3%.”
Mary Smith entered the equipment finance space at GE Capital in the early 1980s. “What started as a job turned into a career when I realized that no day is the same and this industry provides an opportunity to learn... read more
Yes, 2020 Is Different from 2019 Sales representatives continue to encounter lower demand for many equipment types they have traditionally financed. Credit underwriters have directed their organizations to cease financing indigent industry sectors that have been especially hard hit through... read more