U.S. Bancorp (NYSE:USB) reported Q4 earnings with net revenue of $6.7 billion, slightly below analyst expectations of $6.8 billion. Net interest income decreased by 4.2% to $4.1 billion, while noninterest income increased by 28.2% to $2.6 billion. The net interest margin dropped to 2.78% from 3.01% in the previous year. The results included one-time costs due to a special assessment and a charitable contribution, but were offset by favorable tax settlements. The provision for credit losses was down 57% year over year to $512 million. CEO Andy Cecere highlighted the achievement of $900 million in cost synergies from the Union Bank acquisition. The company saw loan growth of 3.6% and deposit growth of 4.3%, with adjusted EPS of $0.99 beating the consensus by $0.01. The CET1 capital ratio improved to 9.9%. Shares of USB rose by 0.35% to $41.53.