U.S. Bancorp’s annual report highlighted a leadership transition, with Gunjan Kedia set to add the board chair role as Andrew Cecere retires at the 2026 annual meeting. The bank said it is executing on three strategic priorities: organic growth, payments transformation, and expense management and productivity. It reported progress on operating discipline, citing nine consecutive quarters of stable expenses and six consecutive quarters of positive operating leverage on an adjusted basis. The report also said the planned acquisition of BTIG is expected to close in Q2 2026, subject to regulatory approvals and other closing conditions.

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