SERVING MINNEAPOLIS / ST. PAUL / MINNESOTA
Donate Now Sustaining Member

MinnPost thanks these major sponsors:




Sponsor of
Second Opinion


Sponsor of
Community Sketchbook


Our major advertisers


Our in-kind partners

Search Engine Marketing

MinnPost thanks these generous donors:

INDIVIDUALS AND FOUNDATI0NS
Blandin Foundation
Otto Bremer Foundation
Bush Foundation
Sage & John Cowles
David & Vicki Cox
Toby & Mae Dayton
Jack & Claire Dempsey
Ethics and Excellence in Journalism Foundation
Sam & Stacey Heins
John S. and James L. Knight Foundation
Joel & Laurie Kramer
Lee Lynch & Terry Saario
Martin & Brown Foundation
The McKnight Foundation
The Minneapolis Foundation
The Saint Paul Foundation
Rebecca & Mark Shavlik

(See all donors here.)

BUSINESS AGENDA

  • Switch to Small Text Size
  • Switch to Medium Text Size
  • Switch to Large Text Size
Email Print Submit a Comment

    U.S. Bancorp results show less borrowing, more saving

    By Dan Haugen | Published Wed, Jul 22 2009 3:41 pm

    More evidence that Americans are borrowing less and saving more.

    U.S. Bancorp's second-quarter profits were about half what they were last year. Several factors contributed, CEO Richard Davis told investors on a conference call this morning, and one of them is that fewer customers are asking for loans.

    The bank is seeing "an overall softening of demand for new loans by our customers, both commercial and consumer as they maintained a cautious outlook on the economy and their own growth opportunities," Davis said. (Transcript via Seeking Alpha.)

    Meanwhile, a second-quarter highlight was an "outstanding growth in total average deposits," Davis said. Total average deposits grew more than 20 percent compared to last year, and even subtracting acquisitions show a year-over-year increase of 11 percent.

    Like what you just read? Support high-quality journalism in Minnesota by becoming a member of MinnPost.

    Advertisement:

    0 Comments:

    E-mail address

    Password

     

    Forgot Password? | Register to Comment

    MinnPost does not permit the use of foul language, personal attacks or the use of language that may be libelous or interpreted as inciting hate or sexual harassment. User comments are reviewed by moderators to ensure that comments meet these standards and adhere to MinnPost's terms of use and privacy policy.

    We intend for this area to be used by our readers as a place for civil, thought-provoking and high-quality public discussion. In order to achieve this, MinnPost requires that all commenters register and post comments with their actual names and place of residence. Register here to comment.



    minnpost.com/businessagenda

    Business Agenda reports on what's going on at businesses in Minnesota. Business Agenda provides brief, quick-reading items about important companies in Minnesota and the people who work at those firms. Business Agenda features new items every day Monday through Friday. 

    Recent Business Agenda Posts