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Andrew Cecere

Executive Chairman, Us Bancorp

Search every verified Andrew Cecere interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Andrew Cecere, chairman and CEO of U.S. Bancorp, discussed the company's fourth-quarter 2024 results during a January 15, 2025 earnings call. He described 2024 as a "pivotal year" and an "inflection point" for the company, citing effective management of macroeconomic uncertainty, including inflation, rate volatility, and regulatory headwinds, while executing on strategic objectives. He also emphasized the growing importance of integrating banking and payments, stating that the interconnectedness of moving, storing, and lending money is critical, and that the company aims to grow this capability in a capital-efficient, fee-focused manner. During the call, Cecere addressed the company's financial outlook, stating that U.S. Bancorp expects to deliver positive operating leverage of 200 basis points or more in 2025, regardless of the revenue environment. He noted that the company has maintained a flat expense base for five consecutive quarters while continuing to invest in various areas. He also provided guidance on deposit betas, indicating expectations of mid-to-high 40s in the first quarter, with a potential migration to 50% or higher through the rate-cutting cycle.

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