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 branch doorways, 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 our global payment processing leader Elavon.
And to respond to a question we sometimes hear, U.S. Bank is not part of the U.S. government.
U.S. Bancorp is a global company, and our headquarters are located at 800 Nicollet Mall in Minneapolis, Minnesota. 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.
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.
Andy Cecere is the chairman, president 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 president in 2016, chief executive officer in 2017 and chairman in 2018.
Andy leads our 14-member Managing Committee – which includes the heads of four core business lines and functional areas like risk; digital; and diversity, equity and inclusion – and our 13-member Board of Directors.
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.
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.
These business lines are supported by functional areas including administration, credit, diversity, equity and inclusion, digital, finance, human resources, legal, and technology.
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.
Our approximately 77,000 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.