BTIG integration is expected to contribute about $200 million of fee revenue per quarter in the back half of 2026.
The Amazon Small Business Portfolio purchase is expected to close in mid-August and add a co-brand card book that management has guided will generate roughly $75 million-$85 million per quarter.
Branch-network investment is expected to step up to $300 million annually to fund densification in roughly 10 high-growth markets.
Full-year 2026 revenue guidance was raised to 7%-9% growth, or 5%-7% excluding BTIG.
Management continues to guide to a path for net interest margin reaching 3% at some point in 2027.
Get valuation models, detailed research reports, thematic primers, one-pagers, risk analysis, growth triggers, bear case, capex tracker, walk the talk, and more for U.S. Bancorp and 4,900+ companies.