U.S. Bancorp
(NYSE: USB)
35.19
-0.16
-0.45%
-0.16
-0.45%
MORE ON USB
COMPANY INFORMATION
| Exchange: | New York Stock Exchange |
| Stock: | U.S. Bancorp |
| Industry: | Banks - Regional - US |
| Employees: | 62,529 |
DESCRIPTION
| U.S. Bancorp was incorporated in Delaware in 1929. It is a multi-state financial services holding company headquartered in Minneapolis, Minnesota. U.S. Bancorp provides a full range of financial services, including lending and depository services, cash management, foreign exchange and trust and investment management services. It also engages in credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage and leasing. The Company has five reportable operating segments namely Wholesale Banking, Consumer Banking, Wealth Management & Securities Services, Payment Services and Treasury and Corporate Support. Wholesale Banking offers lending, equipment finance and small-ticket leasing, depository, treasury management, capital markets, foreign exchange, international trade services and other financial services to middle market, corporate, commercial real estate, financial institution and public sector clients. Consumer banking delivers products and services through banking offices, telephone servicing and sales, on-line services, direct mail and ATM processing. It encompasses community banking, metropolitan banking, in-store banking, small business banking, consumer lending, mortgage banking, consumer finance, workplace banking, student banking and 24-hour banking. Wealth Management & Securities Services provides trust, private banking, financial advisory, investment management, retail brokerage, insurance, custody and mutual fund services through five businesses: Wealth Management, Corporate Trust, FAF Advisors, Institutional Trust & Custody and Fund Services. Payment Services includes consumer and business credit cards, stored-value cards, debit cards, corporate and purchasing card services, consumer lines of credit and merchant processing. Treasury and Corporate Support includes the Company’s investment portfolios, funding, recently acquired assets and assumed liabilities prior to assignment to business lines, capital management, asset securitization, interest rate risk management, the net effect of transfer pricing related to average balances and the residual aggregate of those expenses associated with corporate activities that are managed on a consolidated basis. As a registered bank holding company and financial holding company under the Bank Holding Company Act, U.S. Bancorp is subject to the supervision of and regulation by, the Board of Governors of the Federal Reserve System. |
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