U.S. Bank

U.S. Bank is operated by the US Bancorp. Its total assets combined amounts to $223 billion and is now the considered the sixth biggest commercial banking institution in the land of the free and home of the brave. The company runs over 2,400 banking centers across all its markets and operates more than four thousand eight hundred sixty seven automated teller machine sites providing the widest array of banking services, insurance, brokerage, mortgage, investment, payment and trust, consumer products, institutions, small and large businesses. The US Bancorp is also the owner of the Fiver Star Service Guarantee, the company’s way of assuring its clients about specific banking advantages and products. The company provides a reimbursement or payment in case of customer inconvenience or dissatisfaction.

U.S. Bank parent company is currently ranked 131 as of 2006 in Fortune’s 500 list of US corporations. The U.S. Bank was founded in 1864 in Portland, Oregon. Today, it has headquarters in Minneapolis, Minnesota. The company’s Board Chairman is Gerry Grundhofer and the Chief Executive Officer and President is Richard K. Davis. The U.S. Bank focal business lines are finance services and insurance. U S Bank has offices in 28 states and runs transaction in Canada also.

The history of U.S. Bancorp is a history full of ups and downs. The company had encountered several mergers in the course of its history. Its endurance and perseverance made the company stood against the tests of time and molded what it is today. The forming of U.S. Bancorp was a result of an earlier merger between Star Bank and Firstar Corporation in the year 1999. Star Bank was known to be the First National Cincinnati in Cincinnati, Ohio. 5 months after the merger, Firstar Corporation purchased the Mercantile Bancorporation in St. Louis, Missouri. And in 2001, the birth of U.S. Bank came to be when Firstar finally bought the U.S. Bancorp from its headquarters in Minneapolis, Minnesota. The Firstar Corporation then adopted the U.S. Bancorp brand.

The acquisition of the U.S. Bancorp by the Firstar Corporation was considered to be a turning point not only to Firstar’s banking history but to the American banking industry as a whole. The origins of U.S. Bancorp had a heritage of banking importance in US history.

Tracing its roots, U.S. Bancorp’s earliest predecessor was founded in 1891 at Portland, Oregon through the establishment of United States National Bank of Portland. The company served the Oregon people for so many years and made itself a pillar of the State’s economy. In 1964, to heed to its growing clientele, the United States National Bank of Portland updated its brand and signed with a new name under the United States National Bank of Oregon. This company would become a part of Minnesota’s banking industry decades later which would be the direct parents of the U.S. Bancorp.

In 1997, a company in Minneapolis saw the good track of the United States National Bank of Oregon. It was indeed a good investment when the First Bank System in the Twin City purchased the United States National Bank of Oregon in that said year. After the purchase, First Bank System was changed to U.S. Bancorp.

The origins of the First Bank System date back to the year 1929 with the founding of an Upper Midwest Bank Holding Company. This holding company was formed by two prominent banks in the Twin City, namely: the First National Bank in St. Paul and the First National Bank in Minneapolis. Both banks had origins dating back to the year 1864.

After the marriage of U.S. Bancorp and Firstar in 2001, many acquisitions and mergers followed giving way to more US Banks from Arizona to Wyoming. U.S. Bank’s history is full of intertwining paths. It does not only bear America’s most significant banks, it also bears America’s name. U.S. Bank, the bank of true American spirit.