U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company, headquartered in Minneapolis, Minnesota. Its retail division is U.S. Bank, the sixth-largest bank in the United States based on holdings.

U.S. Bancorp was number 133 in the Fortune 500 list of major U.S. companies for 2004.

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, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming.

Subsidiaries

Formers 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.

History

The bank has developed from a number of mergers, beginning with First Bank System's acquisition of the original U.S. Bancorp (originally headquartered in Portland, Oregon) in 1997. Firstar Bank then acquired U.S. Bancorp in 2000, following two other mergers in 1999 when it merged with Star Banc (formerly First National Cincinnati) of Cincinnati, Ohio, and then bought Mercantile Bancorporation of St. Louis, Missouri five months later.

Other banks that were bought by Firstar include Federated Bank, First Colonial Bankshares Corporation, Banks of Iowa, and Investors Bank. Banks bought by Mercantile Bancorporation include Mark Twain Bancshares, Firstbank of Illinois, Hawkeye Bancorporation, and Ameribanc. Star Banc Corporation bought Great Financial Bank, and US Bancorp bought West One Bancorp.

Namesakes

The U.S. Bank Tower in Los Angeles is named for this company. Also, the corporation has the naming rights to U.S. Bank Arena in Cincinnati.

External link

• U.S. Bancorp official site

Data

• Yahoo! – US Bancorp Company Profile