U.S. Bancorp

Infobox Company
company_name = U.S. Bancorp
company_
company_type = Public (nyse|USB)
company_slogan = Other Banks Promise Great Service, U.S. Bank Guarantees It.
foundation = Portland, Oregon (1890)
location = Minneapolis, Minnesota
key_people = Jerry Grundhofer, former Chairman of the Board
Richard K. Davis, Current Chairman of the Board, President,and CEO (eff. December 2007)
num_employees = approximately 55,000 2006 [cite book
last=
first=
authorlink=
coauthors=
title=Standard and Poor's 500 Guide
publisher=The McGraw-Hill Companies, Inc.
date=2007
location=
pages=
url=
doi=
isbn=0-07-147906-6 ]
industry = Finance and Insurance
products = Financial Services
homepage = [http://www.usbank.com/ www.usbank.com]

U.S. Bancorp (nyse|USB) is a financial services holding company, headquartered in Minneapolis, Minnesota. It is the parent company of U.S. Bank, the sixth-largest bank in the United States as of June 30, 2008.

U.S. Bancorp was number 122 in the Fortune 500 list of major U.S. companies for 2008.

History

The present day U.S. Bancorp developed from a number of mergers, beginning with Firstar Corporation's (formerly First Wisconsin National Bank) of Milwaukee, Wisconsin's merger with Star Bank (formerly First National Cincinnati) of Cincinnati, Ohio in 1999. Five months later, Firstar acquired Mercantile Bancorporation of St. Louis, Missouri. The final major acquisition was Firstar's buyout of U.S. Bancorp, headquartered in Minneapolis, Minnesota. That buyout was completed on February 27 2001. Firstar changed its name to U.S. Bancorp at that time.

The original U.S. Bancorp was the successor of the United States National Bank of Portland, which was founded in Portland, Oregon in 1891 and 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 founded in 1864. [http://www.fundinguniverse.com/company-histories/US-Bancorp-Company-History.html] [http://www.britannica.com/eb/article-9034352/First-Bank-System-Inc] [http://www.mpls.lib.mn.us/history/bi2.asp] [http://www.americasgreatestbrands.com/volume3/18446a.htm]

In early June 1999, Minnesota Attorney General Mike Hatch filed a lawsuit against Minneapolis-based U.S. Bancorp, alleging that the bank illegally released private customer information to a telemarketer.

Several other banks were acquired by U.S Bancorp's legacy companies. Other banks that were bought by Firstar include Banks of Iowa, Federated Bank, First Colonial Bankshares Corporation, and Investors Bank. Banks bought by Mercantile Bancorporation include Mark Twain Bancshares, Firstbank of Illinois, Hawkeye Bancorporation, and Ameribanc. Star Bank Corporation bought Great Financial Bank, and US Bancorp bought West One Bancorp

Coverage

U.S. Bancorp has locations in Arizona, Arkansas, California, Colorado, Florida, Georgia, 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 some operations in Canada and Europe.

Warren Buffet owns stake in US Bank.

ubsidiaries

Former subsidiaries include Piper Jaffray nyse|PJC, which became an independent, publicly held company following its spin-off from U.S. Bancorp on December 31, 2003. U.S. Bancorp's subsidiary credit card processor is Nova Information Systems. Nova Information Systems changed its name in 2008 to Elavon Information Systems.

ee also

*Firstar Center
*Roger L. Fitzsimonds
*Oliver Clyde Fuller

Namesakes

*The U.S. Bank Tower in Los Angeles
*US Bancorp Tower in Portland, Oregon
*US Bank Centre in Seattle, WA
*U.S. Bank Tower in Cincinnati, Ohio
*US Bank Center in Milwaukee, WI
*U.S. Bank Arena in Cincinnati, Ohio
*One US Bank Plaza in St. Louis, Missouri
*U.S. Bank Plaza in Minneapolis, MN
*U.S. Bank Center in Saint Paul, MN
*U.S. Bank Building in Duluth, MN
*U.S. Bank Tower in Sacramento, California
*U.S. Bank Tower in Nashville,Tennessee
*U.S. Bank Tower in Lincoln, Nebraska
*U.S. Bank Tower in Denver, Colorado
*US Bank Plaza in Sacramento, California

References

External links

* [http://www.usbank.com/ U.S. Bancorp official site]
* [http://biz.yahoo.com/ic/58/58646.html Yahoo! - U.S. Bancorp Company Profile]