U.S. Bancorp Q4 2021 Earnings Call Transcript - Thomson StreetEvents

U.S. Bancorp Q4 2021 Earnings Call Transcript

U.S. Bancorp Q4 2021 Earnings Call Transcript - Thomson StreetEvents
U.S. Bancorp Q4 2021 Earnings Call Transcript
Published Jan 19, 2022
Published Jan 19, 2022
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Transcript of USB.N earnings conference call or presentation 19-Jan-22 2:00pm GMT

  
Report Type:

Transcript

Source:
Thomson StreetEvents
Company:
US Bancorp
Ticker
USB.N
Time
2:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : I'm trying to figure out, given your outlook for positive operating leverage, why the stock has opened so weakly. So maybe following up on Vivek's question, I think that The Street had anticipated a much lower or lesser seasonal step-down in payments. So what happened with the interchange rate in the quarter?

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : And the lower interchange rate that you mentioned on Slide 12, was there anything unusual there?

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Got it. Okay. And just to take another step back. On your net interest income guide for 3 rate hikes, mid-single-digit, what kind of deposit betas are you assuming? I think everybody is very well aware that your corporate trust deposits are quite rate-sensitive. But has there been a change in your mix since the '15, '18 rate cycle? And in general, what have you baked into your NII guide for deposit repricing? And what do you expect to actually happen? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 19, 2022 / 2:00PM, USB.N - Q4 2021 U.S. Bancorp Earnings Call

Question: Erika Najarian - UBS Investment Bank, Research Division - Analyst : Got it. And just maybe a last one for Andy. As we think about USB in a cost-inflationary environment, but in an environment where -- as you said to Mike, where your investment spend is steady state, what is really the underlying -- forget to '22, but going forward next 3 years, what is the underlying expense growth of this company? And you had mentioned, I think, at a conference in 2021 that low 50s is something that you could achieve from an efficiency standpoint. Is that something that can only be achieved with the deals that you have pending?

Table Of Contents

US Bancorp at Deutsche Bank Global Financial Services Conference Transcript – 2022-05-31 – US$ 54.00 – Edited Transcript of USB.N presentation 31-May-22 7:15pm GMT

U.S. Bancorp Q1 2022 Earnings Call Summary – 2022-04-14 – US$ 54.00 – Edited Brief of USB.N earnings conference call or presentation 14-Apr-22 1:00pm GMT

U.S. Bancorp Q1 2022 Earnings Call Transcript – 2022-04-14 – US$ 54.00 – Edited Transcript of USB.N earnings conference call or presentation 14-Apr-22 1:00pm GMT

US Bancorp at RBC Capital Markets Financial Institutions Conference (Virtual) Transcript – 2022-03-09 – US$ 54.00 – Edited Transcript of USB.N presentation 9-Mar-22 1:00pm GMT

U.S. Bancorp Q4 2021 Earnings Call Summary – 2022-01-19 – US$ 54.00 – Edited Brief of USB.N earnings conference call or presentation 19-Jan-22 2:00pm GMT

US Bancorp at Goldman Sachs US Financial Services Conference Transcript – 2021-12-08 – US$ 54.00 – Edited Transcript of USB.N presentation 8-Dec-21 3:40pm GMT

US Bancorp at Bank of America Banking and Financials Conference (Virtual) Transcript – 2021-11-09 – US$ 54.00 – Edited Transcript of USB.N presentation 9-Nov-21 2:40pm GMT

US Bancorp at BancAnalysts Association of Boston Conference Transcript – 2021-11-05 – US$ 54.00 – Edited Transcript of USB.N presentation 5-Nov-21 3:20pm GMT

U.S. Bancorp Q3 2021 Earnings Call Summary – 2021-10-14 – US$ 54.00 – Edited Brief of USB.N earnings conference call or presentation 14-Oct-21 12:00pm GMT

U.S. Bancorp Q3 2021 Earnings Call Transcript – 2021-10-14 – US$ 54.00 – Edited Transcript of USB.N earnings conference call or presentation 14-Oct-21 12:00pm GMT

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MLA:
Thomson StreetEvents. "U.S. Bancorp Q4 2021 Earnings Call Transcript" Jan 19, 2022. Alacra Store. May 04, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q4-2021-U-S-Bancorp-Earnings-Call-T13418525>
  
APA:
Thomson StreetEvents. (2022). U.S. Bancorp Q4 2021 Earnings Call Transcript Jan 19, 2022. New York, NY: Alacra Store. Retrieved May 04, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q4-2021-U-S-Bancorp-Earnings-Call-T13418525>
  
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