For context on U.S. Bank's small-business lending footprint, see its SBA lending profile on US Lender Metrics, including approval volume, loan sizes and industry mix. SBA approvals are not the same as funded loans or recognized revenue; the profile states its reporting period.
| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q3'26 | October 15, 2026 | 9/12 | 5 medium, 3 low flags | 3 | 0 | Call sheet → |
| Q2'26 | July 16, 2026 | 10/12 | 1 high, 4 medium, 2 low flags | 5 | 0 | Call sheet → |
| Q1'26 | April 16, 2026 | 11/12 | 3 medium, 5 low flags | 4 | 0 | Call sheet → |
| Q4'25 | January 20, 2026 | 9/12 | 1 medium, 5 low flags | 5 | 0 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q3'26 | Pending | Anticipate increasing buybacks and gliding into the 70%-75% payout range as the company approaches approximately 10% CET1 Buybacks were instead paused entirely this quarter due to loan growth, the Amazon deal's capital demands, and the rate move; management now expects to resume 'over the next quarter or two', a clear delay against the prior glide-up expectation, with no resolution yet confirmed. |
| Q3'26 | Pending | FY2026 positive operating leverage guidance of approximately 200bps (more than 300bps ex-BTIG) FY2026 has not ended; guidance was raised this quarter to approximately 300bps (approximately 400bps ex-BTIG), a favorable revision pending full-year confirmation. |
| Q3'26 | Pending | FY2026 total net revenue growth guidance of 7%-9% (5%-7% ex-BTIG) FY2026 has not ended; guidance was subsequently raised to 8%-9% (6%-7% ex-BTIG) this quarter, a positive revision, not yet a resolved outcome. |
| Q3'26 | Exceeded | Q3 total fee revenue growth guidance of 12%-14%, with BTIG contributing roughly $200 million per quarter Fee income grew 14.9% YoY, above the top of the guided range, and BTIG contributed $226M, above the $200M run-rate assumption. |
| Q3'26 | Delivered | Q3 NII growth guidance of 4%-6% on a fully taxable equivalent basis Actual NII (FTE) grew 5.6% YoY, landing within but toward the upper half of the guided range. |
| Q3'26 | Delivered | Expect to recognize approximately $160 million of reserve build related to the Amazon Small Business Portfolio purchase, anticipated to close mid-August Current quarter EPS included 'approximately 7 cents impact from reserve build', consistent with the prior guided reserve action tied to the Amazon deal having closed and been absorbed. |
| Q2'26 | Pending | Amazon small business card in guidance Still expecting mid-August close, moved from Q2 to Q3 |
| Q2'26 | Delivered | Consumer deposit growth focus Third consecutive quarter of record consumer deposits |
| Q2'26 | Delivered | BTIG closing in back half of Q2 Closed in June as promised |
| Q2'26 | Pending | Positive operating leverage of 200+ bps for full year On track with 400 bps in Q2, now guiding to 300+ bps ex-BTIG |
| Q2'26 | Exceeded | NII growth of 6-7% in Q2 vs prior year Delivered 7.5%, above the high end of guidance |
| Q2'26 | Exceeded | Fee revenue growth of 6-7% in Q2 Delivered 13.2% including BTIG, 9.9% excluding, both above guidance |
| Q2'26 | Exceeded | Mid-single digit loan growth for full year Running at 7.1% YoY in Q2, well above mid-single digit target |
| Q1'26 | Pending | NIM progression toward 3% by 2027 NIM flat at 2.77% this quarter, timeline unchanged but confidence language softened |
| Q1'26 | Pending | BTIG acquisition close by mid-2025 Timeline slipped to back half of Q2 2026, but provided more specific revenue guidance |
| Q1'26 | Delivered | Commercial and credit card loan growth leadership Commercial +10% YoY, credit card +15.7% YoY as promised |
| Q1'26 | Exceeded | Consumer deposit growth focus Record consumer deposits for second consecutive quarter, $7B increase YoY |
| Q1'26 | Delivered | Total net revenue growth 4-6% for 2025 Hit 4% growth, right at midpoint of guidance range |
| Q1'26 | Exceeded | Deliver positive operating leverage of 200+ bps for full year 2025 Delivered 370 bps for full year - significantly outperformed |
| Q4'25 | Pending | Continue building toward 10% CET1 target At 10.8%, close to target but slight decline from 10.9% |
| Q4'25 | Delivered | Operating within medium-term target ranges Now operating within all target ranges for second consecutive quarter |
| Q4'25 | Exceeded | Positive operating leverage of 200+ basis points in Q4 Delivered 440 basis points of positive operating leverage |
| Q4'25 | Delivered | Q4 expense increase of 1-1.5% sequentially Expenses up 0.7%, better than guided |
| Q4'25 | Delivered | Q4 fee revenue approximately $3B Came in at $3.05B, slightly above |
| Q4'25 | Delivered | Q4 NII relatively stable at $4.25B level Hit $4.3B, slightly above guidance |
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