U.S. Bank grew its auto portfolio 7.5% year over year to $18.87 billion outstanding, according to the lender’s first-quarter earnings report.
The bank has maintained high credit quality in its portfolio with an average Fico score of 774 in its indirect channel, which represented 95% of originations.
While delinquencies and charge-offs are on the rise, they still represent less than 1% of the portfolio. Consumers 30 days or more delinquent rose to 0.93% of U.S. Bank’s portfolio compared with 0.69% the same period the year prior.
Likewise, non-performing loans made up 0.12% of the lender’s portfolio up from 0.09% the same period the year prior.
