add site
services
publishers
database
health videos
toolbar
stats
live show
health store
more stuff
JOIN/LOGIN
| advertise add site services publishers database health videos
| | about toolbar stats live show health store more stuff JOIN/LOGIN |
U.S. Bancorp is a financial services holding company, headquartered in Minneapolis, Minnesota. It is the parent company of U.S. Bank, the sixth-largest commercial bank in the United States as of September 30, 2009. U.S. Bancorp offers regional consumer and business banking and wealth management services, national wholesale and trust services and global payments services to more than 15.8 million customers. The company employs approximately 58,000 people. U.S. Bank National Association is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury.
[edit] Rankings and AwardsU.S. Bancorp is ranked 129 in the 2009 list of Fortune 500 companies. [edit] HistoryThe present day U.S. Bancorp was created by the merger of Firstar Corporation in Milwaukee, Wisconsin, and Star Bank in Cincinnati, Ohio in 1999. Five months later, Firstar acquired the Mercantile Bancorporation of St. Louis, Missouri. The last major acquisition was Firstar's buyout of U.S. Bancorp, headquartered in Minneapolis, Minnesota completed on February 27, 2001. Firstar retained U.S. Bancorp's name and headquarters.    The original U.S. Bancorp succeeded the United States National Bank of Portland established in Portland, Oregon in 1891; it changed its name to the United States National Bank of Oregon in 1964. That corporation was acquired in 1997 by First Bank System, Inc., which had its headquarters in Minneapolis, Minnesota. With that acquisition, First Bank System changed its name to U.S. Bancorp. First Bank System was the successor of a bank holding company formed in 1929 by several banks in the Upper Midwest, most notably the First National Bank of Minneapolis and the First National Bank of St. Paul, both of which had been established in 1864.[2][3][4][5] On November 14, 2008, U.S. Bancorp received $6,599,000,000 from the Emergency Economic Stabilization Act in the form of a preferred stock and related warrants. On June 17, 2009, U.S. Bancorp redeemed the $6.6 billion of preferred stock on on July 15, 2009, it completed the purchase of a warrant held by the U.S. Treasury Department. This effectively concluded U.S. Bancorp’s participation in the Capital Purchase Program. At year-end 2008, U.S. Bancorp had total assets of $266 billion, and U.S. Bank was the 6th-largest commercial bank within in the United States.
On October 14, 2009 U.S. Bank agreed to acquire the Nevada banking operations of BB&T Corp. On October 20, 2009 US Bancorp completed a transaction to purchase FBOP Corporation’s nine subsidiary banks from the FDIC: BankUSA, National Association (AZ), California National Bank (CA), Citizens National Bank (TX), Community Bank of Lemont (IL), Madisonville State Bank (TX), North Houston Bank (TX), Pacific National Bank (CA), Park National Bank (IL), and San Diego National Bank (CA). On October 5, 2009 US Bancorp announced its acquisition of the mutual fund administration and accounting servicing division of Fiduciary Management, Inc. On October 7, 2009 U.S. Bank, agreed to buy the bond trustee business of First Citizens Bank, a subsidiary of First Citizens BancShares Inc. [edit] Lines of BusinessU.S. Bancorp operates four main lines of business that serve individuals, businesses of all sizes, municipalities and other financial institutions. [edit] Coverage U.S. Bancorp payment and merchant processing services are global, and the wholesale and trust services are national. The consumer and business banking services are in 24 states including: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming. It also has operations in Canada and Europe. [edit] See also[edit] Namesakes
[edit] References
[edit] External links
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ↑ top of page ↑ | about thumbshots |
