USB commercial lending up

Investor's Business Daily

The regional bank said Q3 EPS rose 2.7% to 76, in line with views. But revenue fell 5.6% to $4.89 bil, missing estimates for $4.96 bil, as mortgage banking revenue sank 37%. U.S. Bancorp. (USB) said total commercial loans grew 9.4% vs. a year go and were up 2% vs. Q2. Total commercial real estate loans rose 5.1% vs. a year ago. Loan-loss provisions were slashed to $298 mil from $488 mil a year earlier. Shares rose 1% to 37.24.

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