Welcome to our dedicated page for U.S. Bancorp news (Ticker: USB), a resource for investors and traders seeking the latest updates and insights on U.S. Bancorp stock.
U.S. Bancorp (symbol: USB) is a diversified financial services provider and one of the largest regional banks in the United States. With a strong presence in 26 states, primarily in the Western and Midwestern U.S., U.S. Bancorp offers a comprehensive range of banking services. These include retail banking, commercial banking, trust and wealth management services, credit cards, mortgages, and various payment solutions.
A commitment to putting people first and making ethical decisions is at the heart of U.S. Bancorp's operations, earning recognition as one of the World's Most Ethical Companies by Ethisphere in 2017. With over 4,800 ATMs and 3,088 branch locations, along with 24-hour phone support and advanced mobile and online banking platforms, U.S. Bancorp ensures convenient access to accounts and financial services for their customers.
In recent developments, U.S. Bancorp has been involved in significant community projects. One notable achievement is the financing of a substantial affordable housing and commercial space project in Los Angeles' Little Tokyo. This development will offer 248 units of affordable housing and 40,000 square feet of commercial space dedicated to minority-owned businesses. Additionally, U.S. Bancorp has supported this community with $466,000 through charitable giving since 2009.
U.S. Bancorp also celebrates its employees' achievements and contributions. During Women's History Month, they highlighted trailblazing women within the organization, such as Jody Clark, Senior Vice President in the IAS Division, who has significantly contributed to the growth and development of the bank’s investment advisory services.
Another initiative by U.S. Bancorp is the Access Home program, which trains bilingual employees to become mortgage loan officers, helping to serve underbanked communities, particularly the Hispanic community. This initiative is part of the broader U.S. Bank Access Commitment® aimed at closing the wealth gap for underserved communities.
Financial stability and community support remain central to U.S. Bancorp's mission, making it a reliable partner for both personal and business banking needs. Equal housing lender and member of FDIC, U.S. Bancorp continues to uphold its ethical standards while driving financial and social progress.
U.S. Bancorp (NYSE: USB) received results from the December 2020 Stress Test, maintaining a common equity tier 1 (CET1) capital requirement of 7.0%. The minimum CET1 ratios under severe scenarios were 7.6% and 7.8%. Due to ongoing economic uncertainty, capital restrictions will continue into Q1 2021, including capped dividends and share repurchases. The board plans to maintain a dividend of $0.42 per share and has authorized a $3 billion share repurchase program starting January 2021. These measures aim to strengthen shareholder value and capital management amidst economic challenges.
U.S. Bancorp has announced the redemption of its outstanding 2.35% Medium-Term Notes, Series V, on December 29, 2020, and all 3.00% Senior Notes due February 4, 2021, on January 4, 2021. The redemption price for these notes will be $1,000 per $1,000 original principal amount, plus any accrued interest. Payments will be made via The Depository Trust Company. U.S. Bancorp is a major financial institution with over 70,000 employees and $540 billion in assets as of September 30, 2020, and is recognized for its ethical practices.
U.S. Bancorp has announced the redemption of all outstanding Series H Non-Cumulative Perpetual Preferred Stock on January 15, 2021, at a price of $25,000 per share. The Series H Depositary Shares will also be redeemed, with the redemption price excluding any unpaid dividends. Holders can expect a regular quarterly dividend payment of $321.88 per share, paid separately on the same date. Following redemption, these shares will be delisted from the New York Stock Exchange. This release serves as notification, not an official redemption notice.
U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.42 per common share, payable on January 15, 2021, for stockholders of record by December 31, 2020. The annualized dividend stands at $1.68 per common share. Additionally, dividends were declared for various series of non-cumulative perpetual preferred stock, with payments ranging from $203.13 to $894.44 per share, also payable on January 15, 2021. This signifies a commitment to shareholder returns amid strong asset management, with U.S. Bancorp managing over $540 billion in assets.
U.S. Bancorp (NYSE: USB) announced that Chairman and CEO Andy Cecere, alongside CFO Terry Dolan, will present at the virtual Goldman Sachs U.S. Financial Services Conference. The presentation is scheduled for 10:40 a.m. ET on December 9. A live webcast of the event will be accessible on the Investor Relations website under the Webcasts and Presentations section. U.S. Bancorp is the parent company of U.S. Bank National Association, one of the largest commercial banks in the U.S., boasting over $540 billion in assets and a commitment to ethical banking practices.
U.S. Bank has announced the launch of its Luxembourg office, enhancing its Global Fund Services. The office will provide fund accounting, administration, and custody services for Luxembourg-based funds. Didier Delvaux, who leads the office, has over 25 years of related experience. U.S. Bank aims to focus on private equity and private debt funds, citing the need for expertise in a complex regulatory environment. The bank holds over $7.7 trillion in assets under custody globally and is committed to maintaining a strong ethical reputation in the fund servicing industry.
U.S. Bank has launched AP Optimizer, a digital tool designed to streamline invoice processing and payments for businesses. This tool aims to reduce costs and manage working capital more effectively.
By connecting to the Bottomline Paymode-X network of 425,000 suppliers, clients can start paying suppliers immediately. The tool integrates with ERP platforms, facilitating a shift from manual processes to electronic payments, including virtual cards and ACH, enhancing fraud protection.
U.S. Bank announced key organizational changes within its Fixed Income & Capital Markets (FICM) business to enhance client focus and operational efficiency. Notable appointments include Jonathan York overseeing Derivatives and Foreign Exchange Products, Chris Braun as head of Foreign Exchange, and Jeanne Rudelius leading Loan Capital Markets. The bank aims to build a stronger product suite and deliver specialized expertise, reinforcing its position as a leading financial partner in various sectors.
U.S. Bancorp (NYSE: USB) announced that Vice Chair and CFO Terry Dolan, along with Sr. EVP and Chief Credit Officer Mark Runkel, will present at the BancAnalysts Association of Boston Conference on November 6 at 8:50 a.m. ET. A live webcast of the event will be accessible via the Investor Relations section of the U.S. Bank website. As of September 30, 2020, U.S. Bancorp holds over $507 billion in assets and employs more than 70,000 individuals, making it the fifth-largest commercial bank in the U.S.
U.S. Bank has appointed Andrew Aye as the new Colorado market president, effective October 13. Aye, returning to U.S. Bank after a stint at BOK Financial, brings extensive experience from prior roles including market president at Guaranty Bank and Trust. His leadership skills and local knowledge are expected to enhance the bank's commercial middle market operations in Colorado. U.S. Bank employs over 2,700 people in the state and has contributed $8 million in corporate grants to local nonprofits over the past three years.
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