U.S. Bancorp Reports Higher Earnings

U.S. Bancorp, the Portlandbased parent of U.S. Bank, said earnings were $66 million, or 65 cents per share, compared with $40 million, or 37 cents per share, for the first quarter of 1994.

“In 1994 we took some tough but necessary steps,” said company Chairman Gerry Cameron. “The financial results in first-quarter 1995 show we are beginning to experience success from the reshaping of our company over the last year.”

He said the bank would continue to aggressively invest in new technology, such as credit card processing systems and “on-line” services that link desktop computer owners to the bank.