Us Bancorp Stock Price, News & Analysis

U.S. Bank has partnered with P.A.R.K. to enhance financial literacy and promote homeownership among at-risk youth in Little Rock, Arkansas. Initiated in early 2022, the project involves monthly discussions where over 40 young adults and U.S. Bank volunteers engage on topics like credit scores and home equity. This initiative is part of the Access Home program aimed at closing homeownership gaps in marginalized communities. With collaboration from Junior Achievement, nearly 300 elementary students are also being educated on financial concepts. U.S. Bank emphasizes community involvement, allowing employees paid time off for volunteer work.

U.S. Bank supports workforce development in the renewable energy sector with a $50,000 grant to GRID Alternatives for a new Clean Tech Training Center (CTTC) in Inland Empire, California. This facility aims to provide no-cost solar installation training, benefiting high school students and low-income individuals. The CTTC will accommodate 300 students in 2023 and aims to meet growing demand for trained solar installers, projected to increase by 27% by 2031. U.S. Bank has contributed approximately $900,000 in financial support to GRID since 2010, reflecting their commitment to community investment.

Securrency has announced the appointment of Nadine Chakar as CEO effective January 9, 2023. Chakar, who has over 30 years of experience in financial services, aims to enhance the commercialization of Securrency's compliance-driven digital asset technology for institutions. Previously, she was Executive VP at State Street Digital. Her leadership is expected to accelerate growth in Securrency's blockchain-enabled financial services infrastructure. Dan Doney will shift to focus on technology and innovation as CTO, furthering the company's vision in decentralized finance.

U.S. Bancorp (NYSE: USB) will announce its fourth quarter 2022 earnings results on January 25, 2023, before market opening. Chairman Andy Cecere and CFO Terry Dolan will lead a conference call at 8 a.m. CT to discuss the results. Investors can access the call via the U.S. Bancorp website or by phone, with a replay available from 11 a.m. CT on the same day. U.S. Bancorp, with $601 billion in assets as of September 30, 2022, operates through various banking services and has been recognized for its ethical practices and customer service.

U.S. Bank has partnered with Century Housing Corporation to introduce a sustainability-labeled commercial paper program aimed at funding affordable housing projects in California. This innovative program allows investors to contribute to securities financing energy-efficient housing, with an expected funding of up to $100 million. The financing initiative, rated A1+ by S&P and F1+ by Fitch, is the first of its kind launched by a Community Development Financial Institution (CDFI). Century Housing has financed over 50,000 homes while focusing on sustainable community development.

U.S. Bank employee Amanda Trevisano Smith, inspired by her family's tradition, has helped raise over $125,000 for St. Patrick Center since 2004 through a festive light display. U.S. Bank volunteers join the effort, embodying the spirit of giving during the holiday season. Annually, the bank offers 16 hours of paid volunteer time, and last year employees contributed 731 hours daily. Trevisano Smith emphasizes the importance of giving back to the community, reflecting U.S. Bank's core values.

U.S. Bank continues its partnership with VolunteerMatch for the sixth year to promote volunteerism on Giving Tuesday (November 29) and throughout the holiday season. The campaign, titled #GiveTime, encourages individuals to volunteer by highlighting six reasons why volunteering is beneficial. Key points include the availability of time during holidays, the spread of holiday cheer, leading by example, personal growth through volunteering, trying new activities, and fostering gratitude.

U.S. Bancorp has announced an increase in its prime lending rate from 7.00% to 7.50%, applicable at all U.S. Bank and Union Bank locations. This change takes effect on December 15, 2022. The bank, which employs approximately 70,000 people and holds about $601 billion in assets, offers a variety of services including Consumer and Business Banking, Payment Services, and Wealth Management. The increase in the prime rate may impact borrowing costs for consumers and businesses.