Markets
U.S. Bank earns high marks for
in-store and on-campus banking

U.S. Bank’s growing branch network includes full service traditional, in-store, and on-campus corporate and university locations, such as this active office at San Diego State University. Founded in 1897, SDSU’s 30,000 students can earn bachelor’s degrees in 84 areas, master’s degrees in 76 areas and doctorates in 16 areas; SDSU’s annual economic impact to the state of California is $6.5 billion. U.S. Bank is proud to partner with SDSU to provide students with our San Diego State University Campus Card for ATM usage and debit purchases, on-campus ATMs, and a convenient on-campus branch.

Learn how to bank anywhere with U.S. Bank Mobile Banking.

Entering our 25th state and new markets, expanding services

In 2011, U.S. Bank expanded its branch banking network into New Mexico, its 25th contiguous state, adding 35 branches in New Mexico and three in Arizona with the acquisition of the banking operations of First Community Bank, a subsidiary of First State Bancorporation. The transaction established U.S. Bank immediately as one of the top three banks in market share in the state of New Mexico.

In January 2012, U.S. Bank again acquired important branches with the purchase of the banking operations of BankEast, a subsidiary of BankEast Corporation, based in Knoxville, Tennessee, extending our franchise in the attractive Tennessee market. The former BankEast’s 10 branches in the Knoxville area bring U.S. Bank’s total branch count in Tennessee to 91, with plans to continue to expand organically in the state.

U.S. Bank Corporate Trust expands to Europe

U.S. Bank’s year-end 2010 acquisition of the domestic and European-based securitization trust administration businesses of Bank of America, N.A. established U.S. Bank as a leader in the U.S. structured finance trust business and complements U.S. Bank’s current market position in the U.S. corporate and municipal trust business. It also established a presence in Europe with offices in Ireland and London, England, providing U.S. Bank Corporate Trust Services with an opportunity to expand its distribution and product offerings abroad. We continue to look for additional opportunities to acquire business as other banks look at sales to raise capital to meet new regulatory requirements. U.S. Bank Global Corporate Trust Services is one of the largest providers of trustee services in municipal, corporate, asset-backed and international bonds, providing a wide range of trust and agency services.

The momentum continues in Wealth Management

The launch of Ascent Private Capital Management (see sidebar) completes the transformation of our Wealth Management business into one with the capability to meet the specialized needs of affluent, high net worth and ultra high net worth clients. The Private Client Group now serves greater numbers of affluent clients more conveniently through our expansive branch network, while high net worth clients are served by a dedicated wealth manager and team of specialists in The Private Client Reserve to meet their demands. With $78.8 billion in assets under management and our targeted advice, expertise and services, we are among the leaders in Wealth Management, ranked in Barron’s 2011 “Top 40 Wealth Managers” list.

Growing beyond our 25-state footprint in high-growth businesses

Our Elavon payments business continues to expand internationally, as does Treasury Management through global partnerships. At the same time, our Corporate Banking, Corporate Trust, Commercial Real Estate, and Capital Markets businesses continue to expand in national markets. Our growth in market share, industry-leading financial results and recognition as one of the nation’s strongest banks has created new awareness of our strength, capital position and expertise. Our ability to deliver on our commitments has continued a flight to quality and generated new business for all these businesses.

Elavon Excellence

Elavon, our subsidiary and a leading global payments provider, won the Merchant Acquirer of the Year Award at the Cards & Payments Europe 2011 Conference for making “a major change to the industry through expansion, acquisitions or technological advancements.”

Ascent
Ascent Private Capital
Management has arrived

In 2011, U.S. Bank Wealth Management developed and launched its newest business, Ascent Private Capital Management, serving the needs of ultra high net worth clients. Ascent offers clients a unique set of services that set U.S. Bank apart in this highly specialized and sophisticated business. Our first two Ascent offices opened in 2011 in Minneapolis and Denver, with plans to open four additional offices during the next two years.