U.S. Bancorp

U.S. Bancorp

Corporate headquarters, U.S. Bancorp Center, in Minneapolis
Trade name	U.S. Bank
Company type	Public
Traded as	NYSE: USB S&P 100 component S&P 500 component
ISIN	US9029733048
Industry	Financial services
Founded	July 13, 1863; 161 years ago (1863-07-13)
Headquarters	U.S. Bancorp Center, Minneapolis, Minnesota, U.S.
Number of locations	3,067 branches and 4,771 automated teller machines
Key people	Andrew Cecere (Chairman, President and CEO)
Products	Asset management Banking Commodities Credit cards Equities trading Insurance Investment management Mortgage loans Mutual funds Exchange-traded funds Index funds Private equity Risk management Wealth management
Revenue	US$28.144 billion (2023)
Operating income	6,150,000,000 United States dollar (2020)
Net income	US$5.429 billion (2023)
Total assets	US$663.491 billion (2023)[1]
Total equity	US$53.660 billion (2023)
Number of employees	77,000 (2022)
Subsidiaries	Elan Financial Services Elavon Talech Syncada
Capital ratio	10.8% Tier 1 (2017)
Rating	Long Term Senior Debt Moody's: A1 (10/2016) S&P: A+ (10/2016) Fitch: AA (10/2016) DBRS: AA (10/2016)
Website	www.usbank.com
Footnotes / references [2][3]

U.S. Bancorp (stylized as us bancorp) is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware.^[4] It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States.^[5] The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019, it had 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States.^[2] In 2023 it ranked 149th on the Fortune 500,^[6] and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.^[7]

U.S. Bancorp operates under the second-oldest continuous national charter, originally Charter #24, granted in 1863 following the passage of the National Bank Act. Earlier charters have expired as banks were closed or acquired, raising U.S. Bank's charter number from #24 to #2. The oldest national charter, originally granted to the First National Bank of Philadelphia, is held by Wells Fargo, which was obtained upon its merger with Wachovia.^[8]