(The following statement was released by the rating agency)
CHICAGO, April 20 (Fitch) U.S. Bancorp's (USB) first quarter
2016 (1Q16)
earnings continued to be strong and near the top of the industry
despite some
higher provision expenses related to the company's energy loan
portfolio, which
Fitch Ratings notes represents only 1.3% of the company's total
loans
outstanding.
Overall, USB's annualized return on average assets (ROAA) was a
good 1.32% in
1Q16, though down from 1.41% in the sequent
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