July 20, 2011 / 11:16 AM / 6 years ago

US Bancorp Q2 net income up, loan losses ease

CHARLOTTE, North Carolina (Reuters) - US Bancorp's (USB.N) second-quarter net income rose by 57 percent as the Midwestern regional bank set aside less money for bad loans and earned more in interest income.

The Minneapolis-based US Bancorp reported net income of $1.2 billion, or 60 cents per share, on Wednesday, up from $766 million, or 45 cents per share, a year ago.

Unlike many of its regional bank peers, US Bancorp has avoided serious real estate-related loan problems, and has emerged as one of the strongest U.S. lenders.

Reporting by Joe Rauch; Editing by Derek Caney

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