U.S. Bank’s indirect loan and lease originations jump 47.3%

Regional banks’ first-quarter earnings mostly showed improvements to credit performance, in line with what national banks reported earlier this month. Auto delinquencies and net charge-offs dipped year over year for Chase Auto and Wells Fargo in Q1. U.S. Bank originations up 47.3% U.S. Bank’s indirect loan and lease originations, which includes auto, rose 47.3% year over year and 17.1% quarter over quarter to $1.7 billion, according to the bank’s earnings supplement published April 16. The bank’s other retail net charge-off ratio, which also includes auto, rose 8 basis points (bps) YoY and 2 bps QoQ to 0.69%, according to its earnings presentation published April 16. Auto loans made up 8.7% of the bank’s other retail portfolio in Q1. The lender’s 30- to 89-day other retail delinquencies hit 0.5% in Q1, up 9 bps YoY and 4 bps QoQ. U.S. Bank’s auto outstandings dropped 38.9% YoY and 0.4% QoQ to $3.6 billion, according to the supplement. It was the 26th largest auto lender by outstandings at yearend 2024, according to the latest Big Wheels ranking data . Shares of U.S. Bancorp [NYSE: USB] sat at $55.48 at market close today, down 0.5% from market open. U.S. bank has a market cap of $86.2 billion. PNC credit health, auto portfolio up PNC Financial ’s credit health largely improved in Q1 as the lender’s auto portfolio grew after completing its acquisition of Lakewood, Colo.-based FirstBank Jan . 5. PNC’s allowance for auto loan and lease losses was $163 million, or 1% of outstandings, in Q1, down 9 bps YoY but up 5 bps QoQ , according to the company’s earnings supplement published April 15. The Pittsburgh-based bank’s acquisition of FirstBank contributed to sequential declines in credit performance, according to an April 15 Jefferies research note. However, “credit quality remained generally strong,” according to the note. The lender’s auto net charge-offs as a percentage of its auto portfolio stayed at 0.07% in Q1, flat YoY and QoQ, according to an Auto Finance News analysis of the supplement. Meanwhile, delinquencies in Q1, according to an AFN analysis of the supplement: The rate of 30- to 59-day delinquencies totaled 0.36%, down 11 bps YoY and 9 bps QoQ; The rate of 60- to 89-day delinquencies totaled 0.09%, down 3 bps YoY and 1 bp QoQ; and The rate of 90-day-plus delinquencies totaled 0.03%, down 2 bps YoY and flat QoQ. PNC does not expect rising energy prices , AI or exposure to non-depository financial institutions to affect “our customers or our credit quality in the near term,” Chief Executive Bill Demchak said during the April 15 earnings call. The lender did not break out auto originations, but “organic loan growth hit a three-year high,” he said. PNC Financial’s consumer auto outstandings rose 6.5% YoY to $16.3 billion, down 1.6% QoQ, according to the supplement. PNC was the 24 th -largest auto lender by outstandings at yearend 2024, according to the latest Big Wheels ranking data. Shares of PNC Financial [ NYSE: PNC ] were trading at $220.07 at market close today, down 0.5% from market open. PNC has a market capitalization of $88.8 billion. Citizens’ auto portfolio down 53.9% Citizens Bank ’s auto portfolio dropped 53.9% YoY and 19.4% QoQ to $1.9 billion in Q1, according to the company’s April 16 earnings supplement. The drop comes as Citizens runs off its auto portfolio following its exit from indirect auto lending in June 2023. The Providence, R.I.-based lender’s auto annualized net charge-off rates totaled 0.35% in Q1, down 38 bps YoY and 25 bps QoQ, according to the supplement. Shares of Citizens Financial Group [NYSE: CFG] were trading at $64.41 as of market close today, up 0.6% from market open. Citizens has a market capitalization of $27.4 billion. Auto Finance News will present multiple invaluable events for industry professionals in 2026, starting with Auto Finance Summit East and Auto Finance Capital Summit in May. To see event agendas and register, visit autofinance.live .

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U.S. Bank’s indirect loan and lease originations jump 47.3%

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