Is U.S. Bank part of U.S. Bancorp?

Yes, U.S. Bancorp [NYSE: USB] is the publicly traded parent company of U.S. Bank. While we often use U.S. Bancorp in formal documents and corporate filings, U.S. Bank is what you’ll see on branches, app stores, national television commercials and much more. 

We also have a number of subsidiaries, some of which have variations on the U.S. Bancorp or U.S. Bank name, like U.S. Bancorp Community Development Corporation and U.S. Bancorp Investments. Others are uniquely named, such as Elavon, our global payment processing leader.  

And to respond to a question we sometimes hear, U.S. Bank is not part of the U.S. government.

What is the size of U.S. Bank?

More than 70,000 employees

Our culture is among our greatest strengths.

More than 2,000 branches in 26 states

We’re a neighborhood bank in thousands of neighborhoods.

More than $28 billion in annual revenue

We have a diversified mix of business lines.

No. 149 on the Fortune 500

Fortune ranks the largest U.S. corporations based on revenue.

$663 billion in assets as of December 31, 2023

We’ve achieved this size through organic and M&A growth.

From local to international businesses

We’re strategically positioned in our industry.

Where is U.S. Bank located?

U.S. Bancorp is a global company, and our headquarters are located at 800 Nicollet Mall in Minneapolis. You may also recognize our name from U.S. Bank Stadium®, which is about a mile from our headquarters and hosts various sports and entertainment events, including Super Bowl LII and the NCAA men’s basketball 2019 Final Four.  

Our retail branch network in the United States is concentrated in the Midwest and West with a recent expansion to the East Coast, but our digital footprint is worldwide. In this increasingly digital age, our customers are located across the country and opt to bank via the U.S. Bank Mobile App. In fact, more than 80% of consumer transactions and 65% of loan sales are now completed digitally. 

We also have a significant international presence, with employees located in 13 countries. U.S. Bank subsidiary Elavon, for example, is the fourth-largest merchant acquirer in Europe, processing payments for many of the best-known retailers, restaurants, hotels and small- and medium-sized businesses on the continent.

What products and services does U.S. Bank offer?

We offer a wide range of financial products, services and tools to individuals, families, small- and mid-sized businesses, large companies, governmental agencies and institutions. From checking accounts and voice banking to card readers and corporate bonds, we aim to serve customers with a blend of human expertise and leading digital innovation. Our U.S. Bank Mobile App, for example, has provided 2 billion personalized insights to customers about spending trends, saving opportunities and more.

U.S. Bank CEO Andy Cecere smiling in an office environment

Who is the CEO of U.S. Bank?

Andy Cecere is the chairman and chief executive officer of U.S. Bank. He joined our company in 1985, spending the early part of his career in the corporate development group overseeing a flurry of regional bank mergers and acquisitions that laid the foundation for current-day U.S. Bank. In the 2000s and 2010s, he served in leadership roles including chief financial officer and chief operating officer. He became chief executive officer in 2017 and chairman in 2018. 

Andy leads our Managing Committee – which includes the heads of core business lines and functional areas like risk; digital; and diversity, equity and inclusion – and our Board of Directors.

Is U.S. Bancorp a strong company?

U.S. Bancorp, trading as USB on the New York Stock Exchange, has a solid history of financial strength, risk discipline and strategic growth. Even in times of economic hardship, we’ve been steadfast for our customers while delivering value to our shareholders by managing for the near- and long-term. 

How does U.S. Bank make money?

We deliver our financial products and services to customers through four core business lines, which contributed to $24.3 billion in annual revenue in 2022. 

  • Consumer and Business Banking (37% of revenue in 2023) 
    Branch banking; small business banking, consumer lending, mortgage banking and omnichannel delivery.

  • Payment Services (25%) 
    Retail payment solutions, global merchant acquiring and corporate payment systems. 
  • Wealth, Corporate, Commercial and Institutional Banking (38%) 
    Wealth management, asset management, capital markets, global fund services, corporate banking, commercial banking and commercial real estate. 
Two U.S. Bank employees in volunteer shirts

How does U.S. Bank give back to the community?

We believe that giving back to the communities where we live, work and play is one of our fundamental responsibilities. We do so in a variety of ways including providing billions of dollars in investments, millions of dollars in grants and thousands of volunteer hours each year.  

We’re committed to addressing economic and social inequities. To create meaningful, lasting change, we elevated the role of chief diversity officer to our Managing Committee in 2020, allocated $100 million in annual capital and $16 million in grants to support Black-owned or -led businesses, housing and workforce advancement, committed to doubling Black suppliers, and more.

Running our business in an environmentally sustainable manner is an important component of corporate responsibility. In fact, we hit the first of our greenhouse gas emissions targets 10 years ahead of schedule. We were also named to the CDP “A List” for tackling climate change – only 5% of global companies assessed earned this grade.

What is it like to work at U.S. Bank?

Our more than 70,000 employees come from all kinds of personal and professional backgrounds, and each person’s career path is a unique journey. The varied perspectives and empowered voices of our employees are our proudest strengths as an organization. Whether an employee is new to the workforce, an experienced professional or a proven leader, their voice makes us stronger as we continue to innovate and improve the customer experience. Visit careers to find opportunities including undergraduate and graduate student internships.

Start of disclosure content
Disclosures

Loans and lines of credit are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.