U.S. Bancorp

U.S. Bancorp

U.S. Bancorp's headquarters in Minneapolis
Trade name	U.S. Bank
Company type	Public
Traded as	NYSE: USB S&P 100 component S&P 500 component
ISIN	US9029733048
Industry	Financial services
Founded	July 13, 1863; 161 years ago (1863-07-13)
Headquarters	U.S. Bancorp Center, Minneapolis, Minnesota, U.S.
Number of locations	3,661 branches (2024) 4,771 ATMs (2024)
Key people	Andrew Cecere (Chairman, President and CEO)
Products	banking asset management wealth management credit cards insurance investment management mortgage loans private equity
Revenue	US$28.14 billion (2023)
Operating income	US$7.84 billion (2023)
Net income	US$5.42 billion (2023)
Total assets	US$663.49 billion (2023)
Total equity	US$53.66 billion (2023)
Number of employees	75,465 (2023)
Subsidiaries	Elavon Talech Syncada
Capital ratio	10.5% Tier 1 (2024)
Website	www.usbank.com
Footnotes / references [1][2][3]

U.S. Bancorp (stylized as us bancorp) is an American multinational financial services firm headquartered in Minneapolis, Minnesota and incorporated in Delaware. It is the 7th-largest bank in the United States as of 2024. As the largest bank in the Midwestern United States, it is considered systemically important by the Financial Stability Board. It is the parent company of its primary operating entity, U.S. Bank National Association, which does business as U.S. Bank. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions.

The firm's early history can be traced to 1891, operating under the second-oldest banking charter granted in 1863 following the passage of the National Bank Act. Since inception dozens of regional mergers and acquisitions throughout the Upper Midwest and Western United States led to the creation of modern U.S. Bancorp. As a diversified holding company, U.S. Bancorp has acquired multiple subsidiaries since the late 2010s. Its retail credit card offerings are provided via the Visa network in the U.S. and abroad.

U.S. Bancorp's annual revenue levels have it ranked on the Fortune 500, with its public stock trading within both the S&P 500 and S&P 100 indexes.^[4][5] It was included in the 2024 Forbes Global 2000 for its sales, profitability, asset base, and market value, among other financial institutions.^[6] U.S. Bancorp sponsors a variety of cultural events, transportation hubs, and sporting venues, including U.S. Bank Stadium. U.S. Bank is one of the largest asset custodians in the country with $6.7 trillion under administration, including, as of 2021, digital assets.^[7]