Our strategy

Creating value through growth, capabilities and transformation

Modernized interior of a U.S. Bank branch

Throughout 2025, our focus was on growing the business. We worked to attract new clients, expand key areas of our business, and partner across the organization to deliver interconnected solutions that differentiate us and bring the whole company to our customers. We opened new branches as well as new client centers beyond our 26-state branch footprint where local teams engage with clients. We also introduced a broader suite of services to strengthen client relationships.

Throughout 2025, our focus was on growing the business. We worked to attract new clients, expand key areas of our business, and partner across the organization to deliver interconnected solutions that differentiate us and bring the whole company to our customers. We opened new branches as well as new client centers beyond our 26-state branch footprint where local teams engage with clients. We also introduced a broader suite of services to strengthen client relationships.

Strategic focus on growing fee revenue

We have a diversified mix of fee businesses that in 2025 made about 42% of our total net revenue. In 2025, we saw broad strength across our fee businesses driven by new products, expanded sales, and national marketing.

Areas where we saw strong full-year growth include:

  • Trust and Investment Management
  • Global Capital Markets
  • Treasury Management
  • Investment Products
  • Payments
  • Impact Finance

6.7%

increase in fee revenue 
year-over-year

photo collage of computer, mobile app and POS system offered by U.S. Bank

photo collage of computer, mobile app and POS system offered by U.S. Bank

Reaching clients with new services

Adding new solutions for business owners

In 2025, we expanded our capabilities for small and medium businesses (SMBs) by connecting banking, payments, and software solutions to address core needs like payroll, bill payments and spend management.

Some examples include:

  • U.S. Bank Business Essentials®, an all-in-one checking account that lets businesses accept card payments with free same-day access to funds and a mobile card reader. It offers unlimited digital transactions, no monthly fee, and integration with accounting software through a streamlined application.
  • Spend Management, a comprehensive platform for our business credit cards, giving owners more control, reducing manual work, and saving time with features like real-time monitoring, adjustable spending controls, easy receipt uploads and integrated accounting.
  • Bill pay for business, available to all U.S. Bank business checking account holders, provides cash flow management and flexible payment options. Businesses sync with accounting software, and the system integrates seamlessly into our online banking platform.
  • U.S. Bank® Payroll meets the need of the approximately 80% of small business owners who want digital payroll solutions bundled with banking, payments, and operations tools. Launched in the third quarter, it gives small business owners the ability to manage payroll and related tasks within online banking.

Photo of the U.S. Bank Business Essentials team being recognized

American Banker recognized a cross-functional team of women across Business Banking, Branch and Small Business Banking, Payments, Sales and Technology among their “The Most Powerful Women in Banking 2025: Top Teams”, for their work bringing U.S. Bank Business Essentials® to life.

Photo of the U.S. Bank Business Essentials team being recognized

U.S. Bank Smartly®: Combining checking, savings and credit cards

Our complete set of interconnected Bank Smartly® products – checking, savings, and credit card – is now available to consumers. Clients who open all three products receive enhanced rewards and benefits that increase with higher balances. Innovative products such as Bank Smartly helped us build our customer base and deliver record consumer deposits in the fourth quarter.

U.S. Bancorp logo and BTIG logo

Adding capabilities through BTIG acquisition

Looking ahead, U.S. Bancorp has agreed to acquire BTIG, LLC, a financial services firm specializing in investment banking, sales and trading, research, and prime brokerage. Founded in 2005, BTIG is a top U.S. broker for equity execution and has completed over 1,275 investment banking deals since 2015. The acquisition will expand our capital markets capabilities. The deal is expected to close in the second quarter of 2026, pending regulatory approval. 

U.S. Bancorp logo and BTIG logo

Scaling through partnerships

Through our partnership with Edward Jones and its network of 20,000 financial advisors, U.S. Bank co-branded checking and credit card products are now available to millions of U.S.-based Edward Jones clients. This includes Edward Jones® Everyday Solutions Powered by U.S. Bank™, which offers rewards, flexible benefits and fee waivers.