Quick FactsPhone Number: 1-800-872-2657 Assets Managed: $259.94 Billion Headquarters: Cincinnati, OH Date Established: July 13th, 1863 | U.S. Bank Profile Information:Bank Headquarters: Minneapolis, Minnesota
Stock Symbol: USB
CEO: Richard K. Davis
US Bank is owned by its parent company U.S. Bancorp and their banking operations are spread right across the spectrum. They work with municipalities, small and large businesses, and along with individual companies. Included in their services are insurance, investments, mortgages, trust, and payment services, along with brokerage services.
US Bank does business in 25 different states with 3,015 offices along with 5,148 ATMs. Throughout their offices they employee approximately 60,000 people and have over 15.8 million customers. They are currently the fifth largest bank in the United States.
US Bancorp in its present form was established with the merger of Firstar Corporation and Star Bank in 1999. In 2000 Firstar purchased Mercantile Bancorportation. The final merger was when Firststar buyout of US Bancorp on February 27, 2001. Firststar kept the US Bancorp name and moved their headquarters to Minneapolis, Minnesota.
In November of 2008 US Bank received over 6.5 billion from the US government in the Emergency Economic Stabilization Act and by the end of 2008 US Bank had assets in excess of $266 billion dollars. They also were the first bank to repay the government on July 15, 2009. With their success in rebounding during the 2009 year they were able to purchase nine different banking companies that were part of the failed FBOP Corporation. This added 150 separate locations throughout Arizona, Texas Illinois and California to the company
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US Bancorp in the last quarter of 2009 had a net income of 602 million dollars. The final numbers for 2009 were a total net revenue of $4.4 billion dollars. This was headlined by $129.3 billion in new lending for the 2009 fiscal year. US Bancorp had a one year growth of 13.3% with income growth of 38.8%.
For small business and consumers US Bank provides a variety of banking options. They have brought on 24-hour banking along with transaction services and allow community banking in their Metropolitan bank branches.
Their wholesale banking division is organized to maintain large companies and non-profit groups. It provides deposits, payments, treasury management services, leasing, and international trade financing among its wide variety of services.
Investment opportunities are run through U.S. Bancorp Investments, FAF Advisors Inc., The Private Client Reserve, Corporate Trust Services, Institutional Trust & Custody and U.S. Bancorp Fund Services, LLC. The insurance services they offer are under U.S. Bank Insurance Services, LLC.
U.S. Bancorp has won numerous awards in the industry in the last few years. It was named on the Fortune 500 company list coming in at #129 in 2009 and Euromoney magazines named U.S. Bancorp the Best Bank in The United States in July of 2009. Related to its investment potential they were named #1 by Institutional Investor magazine on its 2009 list of Americas Most Shareholder Friendly Companies for Financial Institutions/Large Cap category. On top of all of that, US Bank also have been a leader for women in business. U.S. banker magazine named U.S. Bancorp women leaders as the top banking team for its Most Powerful Women in Banking issue for the years of 2006-2009.
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