AMERICAN EXPRESS CO (AXP) furnished updated credit performance statistics for its U.S. Consumer and U.S. Small Business Card balances held for investment for the months ended June 30, July 31 and August 31, 2026.
For U.S. Consumer cards, total card balances were $114.2 billion at August 31, 2026, with 30-day-plus delinquencies at 1.1% for each of the three months. The consumer net write-off rate – principal only was 1.7% in August and July versus 1.4% in June, with June reflecting proceeds from a sale of previously written-off balances that reduced the June rate by about 0.3 percentage points.
For U.S. Small Business cards, total balances were $46.1 billion at August 31, 2026, with 30-day-plus delinquencies of 1.3% in August and July and 1.4% in June. Small business net write-off rates were 2.2% in August, 2.6% in July and 2.3% in June, with the June sale lowering that month’s rate by about 0.1 percentage points. Combined U.S. Consumer and U.S. Small Business card balances held for investment were $160.3 billion at August 31, 2026.
The American Express Credit Account Master Trust reported ending total principal balances of $25.0 billion at August 31, 2026, with an annualized default rate, net of recoveries, of 1.0% and $0.2 billion of accounts 30 days or more delinquent for each of the three monthly periods shown. The June 2026 trust default rate also reflects proceeds from the sale of certain previously written-off balances.
AMERICAN EXPRESS CO (AXP) reported that Chief Colleague Experience Officer Monique Herena sold 8,811 shares of common stock on 2026-08-18 in a sale classified as an open market or private transaction. The weighted average sale price was $337.41 per share, based on multiple trades between $337.29 and $337.65. Following this transaction, Herena directly holds 12,444.723 shares of American Express common stock, which includes shares acquired through dividend reinvestment.
AMERICAN EXPRESS COMPANY (AXP) executive Monique R. Herena filed a notice of proposed sale of common stock under Rule 144. The filing covers up to 8,811 shares of American Express common stock, with an indicated aggregate market value of $2,972,908.94, expected to be sold through Morgan Stanley Smith Barney LLC on or about August 18, 2026. The shares relate to restricted stock vesting on February 1, 2026 under a registered plan and were acquired from the issuer.
American Express Company reported monthly credit performance statistics for its U.S. Consumer and U.S. Small Business Card balances held for investment as of and for the months ended May 31, June 30, and July 31, 2026. U.S. Consumer total card balances were $113.1 billion at July 31, 2026, with 1.1% of balances 30 days past due and a net write-off rate on principal of 1.7%. U.S. Small Business total card balances were $46.1 billion, with 1.3% 30 days past due and a net principal write-off rate of 2.6%.
Total U.S. Consumer and U.S. Small Business card balances held for investment were $159.2 billion at July 31, 2026. American Express also provided recent performance data for the American Express Credit Account Master Trust, which had an ending total principal balance of $24.9 billion for the period July 1–31, 2026, an annualized default rate net of recoveries of 1.1%, and $0.2 billion of balances 30+ days delinquent.
American Express Company reported issuing 1,600 shares of 6.450% Fixed Rate Reset Noncumulative Preferred Shares, Series E, $1.66 ⅔ par value per share, which were deposited against delivery of depositary receipts representing 1,600,000 Depositary Shares, each equal to a 1/1,000th interest in a Series E Preferred Share.
The company filed a Certificate of Amendment on August 11, 2026 to fix the designations, preferences, limitations and relative rights of the Series E Preferred Shares, which carry a liquidation preference of $1,000,000 per share. The sale of the Depositary Shares was closed on August 12, 2026 under an underwriting agreement dated August 5, 2026.
Under the Series E terms, if full dividends are not declared and paid (or set aside) on the Series E Preferred Shares, the company’s ability to pay dividends, make distributions, or redeem, purchase or make liquidation payments on its common shares and certain parity preferred shares, including Series D Preferred Shares, will be restricted. The company plans to send a redemption notice for depositary shares representing 1/1,000th interests in Series D Preferred Shares, which would result in full redemption on September 15, 2026 at an aggregate redemption price of $1,000,000 per Series D Preferred Share (equivalent to $1,000 per Series D Depositary Share), plus any declared and unpaid dividends.
American Express filed a Form 13F Holdings Report as an institutional investment manager. The report lists holdings in 1 reportable position with a total reported value of $1,481,612,409 (rounded to the nearest dollar) and indicates there are no other included managers.
American Express Company is conducting a primary offering of 1,600,000 depositary shares, each representing a 1/1,000th interest in a Series E 6.450% Fixed Rate Reset Noncumulative Preferred Share with a $1,000 liquidation preference per depositary share, totaling $1.6 billion of liquidation preference. The public offering price is $1,000 per depositary share, with a $10 underwriting discount and $990 in proceeds to the issuer before expenses; net proceeds are estimated at about $1.58 billion.
Dividends are noncumulative and payable quarterly, when and if declared, at 6.450% per year until September 15, 2031, then reset every five years to the five-year U.S. Treasury rate plus 2.119%. The shares are perpetual, rank senior to common stock and equal to Series D preferred, and may be redeemed at $1,000 per depositary share on any dividend date on or after September 15, 2031 or following a Regulatory Capital Event, subject to Federal Reserve approval. The depositary shares will not be listed on any securities exchange. Net proceeds are intended for general corporate purposes, including potentially redeeming outstanding Series D Preferred Shares.
American Express Company announced the launch of a proposed public offering of depositary shares, each representing a 1/1,000th interest in a new series of Fixed Rate Reset Noncumulative Preferred Shares, Series E, with $1.662/3 par value per share.
The company intends to use net proceeds for general corporate purposes, including potentially redeeming outstanding 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D, with $1.662/3 par value per share. Whether the offering prices or closes, and whether any Series D shares are redeemed, is subject to market conditions and other factors, and there is no assurance these actions will occur.
American Express Company plans a primary offering of depositary shares, each representing a 1/1,000th interest in a new Series E perpetual Fixed Rate Reset Noncumulative Preferred Share. Each preferred share has a $1,000,000 liquidation preference, equivalent to $1,000 per depositary share.
Dividends are discretionary, paid quarterly when and if declared, at a fixed rate until a first reset date in 2031, and thereafter at the five‑year U.S. Treasury rate plus a spread. Dividends are noncumulative: missed dividends do not accrue. The shares are perpetual, redeemable at the issuer’s option on dividend dates on or after the reset date, or earlier upon a Regulatory Capital Event, in each case at liquidation value plus any declared but unpaid dividends, subject to Federal Reserve approval.
The preferred ranks senior to common stock and pari passu with the outstanding 3.550% Series D preferred for dividends and liquidation, and is intended to qualify as non‑common Tier 1 capital under Basel III. Net proceeds are expected to be used for general corporate purposes, including potential partial or full redemption of the Series D preferred. The depositary shares will not be listed on any securities exchange, and investors face typical risks of bank‑regulatory limits on dividends and redemptions, noncumulative dividends, limited voting rights, and potential illiquidity.
American Express Company reported second-quarter 2026 total revenues net of interest expense of $19,637 million, up 10% from a year earlier. Net income was $3,110 million and diluted EPS was $4.53, compared with $2,885 million and $4.08 in 2025.
Card activity remained robust: network volumes reached $516.8 billion and billed business grew 9%, with broad-based gains in Goods & Services and Travel & Entertainment. Total Card balances and Other loans rose 8% to $229,481 million, while credit quality stayed stable with a 2.0% principal-only net write-off rate and 1.2% consumer and small business delinquency.
Across segments, U.S. Consumer Services revenues increased 11%, Commercial Services 7% and International Card Services 12%, all net of interest expense. Return on average equity was 36.4%, the Common Equity Tier 1 capital ratio stood at 10.4%, and the company returned $2,887 million to shareholders in Q2 via repurchases and dividends.