Fact sheet | FAQ | U.S. Bank (2024)

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.

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.

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.

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; 24-hour customer centers; mobile banking; online banking; mortgages; consumer lending; ATM and debit processing; workplace banking; student banking
• Payment Services (25%)
  Credit, debit, prepaid, virtual, corporate, purchasing and fleet cards; global payment processing; freight payment services; real time payments; e-commerce

• Wealth, Corporate, Commercial and Institutional Banking (38%)
  Lending; asset-based financing; equipment finance and small-ticket leasing; correspondent banking; depository services; capital markets; international trade; wealth planning, investments, trust services; private banking; specialty asset management; global custody solutions; global fund services; corporate and institutional trust services

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.