U.S. Bancorp has reported net income of $1.2 billion for the second quarter of 2006, compared with $1.12 billion for the second quarter of 2005. Net income of 66 cents per diluted common share in the second quarter of 2006 was higher than the same period of 2005 by 10 percent. Return on average assets and return on average common equity were 2.27 percent and 24.3 percent, respectively, compared with returns of 2.23 percent and 22.7 percent, respectively, for the second quarter of 2005.
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