Excellent banking franchise with strong market shares, particularly across the Midwestern and Western U.S. Conservative risk appetite and growth strategy focused on organic loan growth and strategic bolt-on acquisitions Superior business stability, which generates consistent revenue and earnings Outperformance versus bank industry averages, with top-tier return and efficiency metrics Lower targeted capital ratios than most of its superregional and money center bank peers Higher percentage of brokered deposits versus peers. Exposure to credit cycles from concentrations in commercial and consumer lending The stable rating outlook on U.S. Bancorp (USB) and its operating subsidiaries reflects S&P Global Ratings' expectations that they will maintain financial performance that is stronger than peers' and that conservative underwriting standards and strong reserve coverage will continue
