Prime Highlights
- Gunjan Kediareceived $16.7 million in total compensation in her first year as CEO, with stock awards comprising the bulk of her pay.
- The bank reported record financial growth in 2025, including $7.6 billion in net incomeand a 16% rise in share price, reflecting strong performance under new leadership.
Key Facts
- S. Bancorprecorded average deposits of $509 billion and average assets of $676 billion in 2025.
- The median employee earned $95,307, resulting in a CEO-to-employee pay ratio of 1:178.
Background
U.S. Bancorp paid its chief executive, Gunjan Kedia, a total compensation of $16.7 million in 2025, her first year leading the Minneapolis-based regional bank.
According to a filing with the U.S. Securities and Exchange Commission, a large portion of Kedia’s compensation came from stock awards. These awards accounted for about $11.5 million of her total pay package for the year. In 2024, when she served as president of the bank, Kedia earned $10.1 million, including $6.5 million in stock-based compensation.
Kedia became CEO last spring, taking over from long-time executive Andy Cecere. She is also expected to assume the role of board chair after the company’s annual shareholders meeting scheduled for April. Cecere, who previously held both positions, will not seek reelection to the board.
In a letter to shareholders, Cecere said the company is well prepared for future growth under Kedia’s leadership. He added that it had been an honour to serve the company and its shareholders for more than four decades.
The bank also reported improved financial results for 2025. U.S. Bancorp recorded $7.6 billion in net income, up from $6.3 billion in 2024. Earnings per share increased to $4.62, reflecting a 21.9% rise from the previous year.
During the same period, the bank maintained average deposits of about $509 billion and average assets of roughly $676 billion. The company’s share price also increased by around 16% over the year.
Under another reporting measure called “compensation actually paid,” which adjusts executive pay based on changes in stock value, Kedia’s compensation reached about $21.4 million.
The filing also showed that the median employee at U.S. Bancorp earned $95,307 in 2025. This resulted in a CEO-to-employee pay ratio of 1:178.
U.S. Bancorp remains one of the largest banks in the country and holds the top market share in the Twin Cities region.
