U.S. Bancorp, a financial services holding company, is the parent company of U.S. Bank, which is the country’s sixth largest bank, according to a company press release announcing the deal. Fortune 500’s annual ranking ranks U.S. Bancorp as the 122nd largest corporation for 2008.
Recent reports indicate that the infusion of federal money will help U.S. Bancorp expand by acquiring additional banks across the country. Warren Buffett is U.S. Bancorp’s top shareholder. U.S. Bancorp grew into what it looks like today through a number of mergers across the country.
MadMoney’s Jim Cramer counts U.S. Bancorp as one of four “financial fortresses” – banks that are solid enough to withstand the financial crisis and are likely to eventually acquire other, less stable banks. In addition to U.S. Bancorp, the other “fortress four” are Wells Fargo, Bank of America, and JP Morgan Chase.
On November 14, 2008, U.S. Bancorp received $6.6 billion under the Treasury Department Capital Purchase Program. The company returned the funds in full on June 9, 2009.
Financial Documents | Federal contracts | Lobbying reports
Political Contributions | Related Articles | Bank Bio Chart
USAspending.gov (last accessed 03/30/2009)
Center for Responsive Politics (Last Accessed 11/13/08).
November 12, 2008, The Fortress Four Strike Again (CNBC – MadMoney)
November 12, 2008, U.S. Bank eyeing buyout targets (TwinCities.com)
November 10, 2008, Sector Snap: Regional Banks mostly fall (Yahoo/AP)
November 10, 2008, Scaling Back? Not on the Ad Budgets (American Banker)
November 10, 2008, U.S. Bancorp may increase lending, acquisitions: analyst Bove (Reuters)
November 3, 2008, U.S. Bancorp to Participate in U.S. Treasury Capital Purchase Program (company press release)
October 22, 2008, US Bancorp's Double Opportunity (Motley Fool)
October 21, 2008, Profits take a hit at U.S. Bancorp (The Business Journal)
October 21, 2008, Troubled Banks Weigh on U.S. Bancorp (TheStreet.com)
October 20, 2008, Earnings Preview: Profit expected at U.S. Bancorp (AP)
July 21, 2008, The Banks Have Bottomed (CNBC – MadMoney)
February 22, 2008, Buffett raises stakes in Wells Fargo, U.S. Bancorp (MarketWatch)
Bailout Bank Bio: U.S. Bancorp
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Federal Equity Investment |
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Total Revenue |
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Net Income |
$4.3 billion (2007) |
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Number of Employees |
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Corporate Headquarters |
Minneapolis, MN |
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Business Sector |
Banking, Financial Services |
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Officers and Directors |
Richard K. Davis Chairman, President and Chief Executive Officer |
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Corporate Website |
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Executive Compensation |
Last Updated March 13, 2009
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