The Minneapolis-based company said third-quarter average total loans slipped 1% from a year earlier. Still, it remains focused on organic expansion and averse to bank acquisitions.

In early May, Kedia was promoted to president of U.S. Bancorp. She was previously vice chair, wealth, corporate, commercial and institutional banking at U.S. Bank.

The bank's acquisition of embedded finance firm Rize Money and collaboration with open banking firm Trustly will enable the bank to grow real-time processing, account-to-account transfers and address emerging compliance challenges.

Executives at the super-regional bank told investors that years of investments are poised to start paying off in rising profits, but the market seemed skeptical about the company's plan forward.

The Minneapolis-based company reported an 18% increase in quarterly net income thanks largely to slimmed-down operating expenses. It also notched modest increases in loans and deposits, while asset quality issues remained manageable.

A month after Gunjan Kedia was named the company's president, the Minneapolis firm has promoted Stephen Philipson and Felicia La Forgia into new roles that will cover Kedia's former duties.

The Minneapolis-based company has promoted Kedia to president, a role that CEO Andy Cecere and his predecessor both held before being named to the top job.

After the Minneapolis-based company reported stubbornly high commercial deposit costs, it reduced its full-year forecast for net interest income by $200 million-$500 million.

The first major hurdle arises for lenders that approach $100 billion in assets. That's when they have to deal with a key regulatory threshold, becoming so-called Category IV banks, which are subject to stiffer capital rules and oversight.

The enforcement action involved problems with the Japanese-owned Union Bank's information security and operational risk controls.