U.S. Bancorp's adjusted profit fell in the second quarter of 2024 as higher deposit costs hurt interest income. This trend was observed across several U.S. banks, including KeyCorp, Regions Financial, and Fifth Third Bancorp. KeyCorp forecasted a larger drop in average loans for 2024 than previously anticipated and reported a 5% fall in second-quarter profit due to costlier deposits. Regions Financial experienced a 14% decline in its second-quarter profit as the lender earned less from customers' interest payments. Fifth Third Bancorp also reported a fall in second-quarter profit, citing weakness in interest income. Despite these challenges, investment banking units saw a boost from a surge in bond sales.