Publicly traded U.S. banks raised $15.82 billion in capital in October, up 29.4% from September and 65.4% year over year, according to S&P Global Market Intelligence data.

Among public U.S. banks, preferred equity raises totaled $4.75 billion in October, led by a $1.50 billion depositary share offering by U.S. Bancorp. According to a prospectus, the bank intends to use the proceeds to redeem other outstanding preferred stock, and to fund part of the cash portion for its roughly $8 billion acquisition of MUFG Union Bank NA's core banking franchise.

U.S. Bancorp also accounted for $1.30 billion of the $1.40 billion in subordinated debt raises for the month.

Publicly traded U.S. banks raised $9.54 billion in senior debt in October, with Bank of America Corp. accounting for $3.25 billion, more than one-third of the total tally.

The only common stock issuance by a public bank during October was a $52.9 million mutual conversion by Opelousas, La.-based Catalyst Bancorp Inc.