U.S. Bancorp - USB STOCK NEWS

U.S. Bank is sponsoring the SCORE Charlotte Pitch for Growth competition, a 'Shark Tank'-style event for entrepreneurs looking to expand their businesses. The 2023 winner, Surefire Neighborhood Market, received $5,000 for providing affordable, healthy food options in Rock Hill, South Carolina. Applications for the 2024 competition open on August 12, with the final event in mid-November.

The competition, supported by the U.S. Bank Foundation, offers mentoring and educational resources through SCORE, a nonprofit partner of the Small Business Administration. U.S. Bank's Business Access Advisor program, part of its Access Commitment®, aims to help underserved small businesses thrive by providing access to information and resources.

U.S. Bank's Business Access Advisors are organizing bus tours across multiple cities in August and September to connect small business owners with bank leaders and resources. These tours, coinciding with National Black Business Month, aim to address common challenges faced by entrepreneurs, such as securing capital and accessing information. Micae Brown, a Business Access Advisor serving Chicago and Milwaukee, will lead her third annual tour, focusing on building connections and strengthening community. The initiative highlights U.S. Bank's commitment to supporting small businesses by providing access to financial solutions and educational resources.

U.S. Bank and the Arvada Center, a Denver-area arts and humanities nonprofit, have maintained a strong partnership for over 30 years. The U.S. Bank Foundation has provided consistent financial support to the Arvada Center, aligning with their shared mission of empowering communities. This relationship has evolved to include a U.S. Bank team member on the Arvada Center board and a new banking relationship. Philip Sneed, Arvada Center President & CEO, expressed enthusiasm for the growing support from U.S. Bank and their mutual goal of helping individuals realize their potential. The partnership exemplifies U.S. Bank's commitment to community engagement and supporting local cultural institutions.

U.S. Bancorp (NYSE: USB) has appointed Arijit Roy to its Managing Committee, a group of 16 top executives. Roy, 47, will continue leading the Consumer and Business Banking product organization, reporting to U.S. Bancorp President Gunjan Kedia. His role involves enhancing the bank's product capabilities and partnering with distribution channels to drive growth in consumer and small business segments.

Roy joined U.S. Bank in 2022, bringing experience from leadership positions at Truist, Discover Financial Services, and McKinsey and Company. He holds master's degrees from Harvard Business School and Virginia Tech. U.S. Bancorp CEO Andy Cecere praised Roy's focus on collaboration, client advocacy, and creating unique product offerings, highlighting his expertise in integrating product, channel, and strategy in financial services.

The U.S. Bank Freight Payment Index for Q2 2023 shows signs of improvement in the truck freight market, despite continued contraction. Shipments decreased by 2.2% and spending fell by 2.8% nationally, marking a slower decline compared to Q1. Notably, three regions - West, Northeast, and Southeast - experienced increased shipment volumes, a first in over a year. Year-over-year, shipments were down 22.4% and spending decreased 23.5%. The West region saw a 1.5% increase in shipments, its first gain since Q1 2022, while the Southwest continued to struggle. The Midwest posted declines, while the Northeast and Southeast showed positive signs with increased shipments for the first time in years.

U.S. Bank has earned a perfect score of 100 on the Disability Equality Index® for the seventh consecutive year, maintaining its status as a 'Best Place to Work for Disability Inclusion.' The index, the most comprehensive benchmarking tool for Fortune 1000 and Am Law 200 companies, evaluates disability workplace inclusion across various categories. U.S. Bank demonstrates its commitment through initiatives like an adaptive technology hardware catalog, ASL and caption services, and adherence to Web Content Accessibility Guidelines. The bank has also introduced a large print statement option for clients, particularly benefiting those with vision impairments.

U.S. Bank has launched U.S. Bank Advanced Receivables, a comprehensive accounts receivable (AR) platform developed in partnership with Billtrust. This innovative solution aims to help suppliers accelerate cash flow, reduce costs through automation, and enhance payment experiences. The platform addresses challenges in the B2B receivables process, offering five core solutions: Invoicing, Payments, Cash Application, Collections, and Credit.

This introduction aligns with the findings of the U.S. Bank CFO Insights Report, which revealed that cutting costs within the finance function is the top priority for U.S. corporate finance leaders. The Advanced Receivables platform complements U.S. Bank's existing AP Optimizer, enabling companies to digitize and automate their entire B2B payment processes.

U.S. Bancorp (USB) has announced the release of its second quarter 2024 financial results. The company has made the earnings release, earnings supplement, and slide presentation available on their investor relations website. A conference call to review the financial results is scheduled for 7 a.m. Central Time, hosted by Chairman and CEO Andy Cecere and Senior Executive VP and CFO John Stern.

Interested parties can access the webcast and presentation through the U.S. Bancorp website. For those wishing to join the conference call, the following dial-in numbers are provided:

• Within the United States and Canada: 888-210-4659
• Outside the United States and Canada: 646-960-0383

The conference ID for all participants is 7269933.

U.S. Bancorp (USB) has announced the election of Aleem Gillani to its Board of Directors, effective immediately. Gillani, 62, will serve on the Audit Committee and Risk Management Committee. He brings extensive financial services and risk management experience, having previously served as Chief Financial Officer of SunTrust Banks from 2011 to 2018. Gillani's background includes roles as corporate treasurer and chief market risk officer at SunTrust, as well as similar positions at PNC Financial Services Group and FleetBoston Financial.

U.S. Bancorp Chairman and CEO Andy Cecere highlighted Gillani's expertise in financial reporting, accounting, and financial risk management as valuable assets for the company's growth strategy. Gillani is also a current board member of Freddie Mac and has been involved with the Risk Management Association, including serving as the founding chair of its Market Risk Council.