U.S. Bancorp - USB STOCK NEWS

U.S. Bank is taking significant steps to address the racial wealth gap, particularly among Black Americans. Marcus Brown, a strategy manager in the Diversity, Equity & Inclusion team, emphasizes the bank's role in improving access to capital and financial education. The Access Commitment™, launched in early 2021, aims to enhance support for diverse suppliers, increase Black homeownership through initiatives like Access Home, and foster leadership among historically marginalized groups. The bank reports a notable increase in spending with diverse suppliers and has implemented numerous educational programs. U.S. Bank is actively measuring and enhancing its initiatives in partnership with the Urban Institute, ensuring transparency through its ESG report.

U.S. Bank has appointed Jay Martin as the new president of Global Fund Services (GFS). With over three decades in financial services, Martin previously worked at Citco and Citi, holding senior positions. He will lead a global team focused on providing customized solutions for alternative investments, mutual funds, and exchange-traded products. This appointment marks a significant move for U.S. Bank's Wealth Management and Investment Services division, enhancing its service capabilities. Martin will collaborate with the interim head of GFS to ensure a smooth transition. U.S. Bank, a leading financial institution with nearly $675 billion in assets, emphasizes digital innovation and customer service excellence.

U.S. Bank has achieved a significant milestone with its cobrowse feature, celebrating three years since its introduction. Recent customer satisfaction surveys indicate an exceptional 97% satisfaction rate, underscoring the positive impact of this feature on customer interactions. Cobrowse allows customers to share screens and receive real-time guidance from bankers, enhancing their banking experience both online and through mobile applications.

The feature has gained traction, with more than 25% of U.S. Bank customers utilizing it, indicating widespread acceptance and usage. U.S. Bank is committed to blending digital tools with human interaction, offering innovations like video banking to meet diverse customer needs. Overall, cobrowse is seen as a pivotal element in U.S. Bank's strategy to deliver top-notch banking experiences.

U.S. Bancorp (NYSE: USB) is set to announce its first quarter 2023 earnings results on April 19, 2023, before the market opens. A live conference call will be held at 9 a.m. CT, featuring insights from Chairman and CEO Andy Cecere and CFO Terry Dolan. Investors can access the call via the U.S. Bancorp website or by dialing in. A replay will be available at approximately 12 p.m. CT the same day. As of December 31, 2022, U.S. Bancorp reported $675 billion in assets and operates a diverse range of financial services.

U.S. Bank honors Cheri Kay Getz, the first woman in its maintenance department, showcasing her 40-year career starting as a safe deposit attendant in 1980. Initially met with skepticism regarding her capabilities, Getz thrived in maintenance, expanding her role to cover five branches. After outsourcing maintenance, she transitioned to a teller position, continuing to serve the Lake Street community, particularly after the branch's damage in May 2020. Getz demonstrates dedication to her community, emphasizing trust and service in her new role.

U.S. Bank is enhancing its commitment to sustainability through a partnership with First Mile, aiming to reduce ocean-bound plastic waste while supporting communities. The initiative utilizes reclaimed ocean-bound plastic for eco-friendly debit cards, significantly contributing to environmental preservation. For every million cards produced, over one ton of plastic is diverted from harmful environments. Additionally, this partnership aids in creating well-paying jobs for workers in Haiti, with 27% of U.S. Bank's debit card members opting for these eco-friendly designs. U.S. Bank continues to prioritize environmental, social, and governance (ESG) goals through these efforts.

U.S. Bancorp (NYSE: USB) has updated its conference call schedule for quarterly financial results, accelerating the earnings release dates for 1Q and 2Q 2023. This adjustment follows the successful integration of MUFG Union Bank, acquired on December 1, 2022. The new earnings call dates are April 19, July 19, October 18, and January 17, 2024, all aligned with the pre-acquisition timeline. As of December 31, 2022, U.S. Bancorp had approximately 77,000 employees and $675 billion in assets, providing a diversified range of banking services.

U.S. Bank partnered with Freedom Alliance and Ole South to gift a mortgage-free home to U.S. Army Sergeant Xanthin Luptak and his family, marking a significant milestone in their lives. This event coincides with the 20th anniversary of the Iraq War, highlighting the sacrifices made by military personnel. Since 2013, U.S. Bank has provided 23 homes valued at over $5 million to veteran families. Luptak, a medically discharged veteran due to combat injuries and lymphoma, expressed immense gratitude for this opportunity to provide stability for his wife and children.

U.S. Bank announces Anita Colvin as the first woman to lead its Equipment Finance sales group. With a 25-year career at U.S. Bank, Colvin transitioned from a part-time teller to a leadership role, emphasizing diversity and mentorship. Under her leadership, the manufacturing vendor services team provides crucial financing for various industries. Colvin advocates for women's representation in finance, actively participating in organizations aimed at promoting diverse workplaces. Her commitment to mentorship aims to support and inspire other women in the industry, fostering an inclusive workforce for long-term growth.