U.S. Bancorp - USB STOCK NEWS

U.S. Bancorp (NYSE: USB) announced that its Chairman and CEO, Andy Cecere, along with CFO John Stern, will present at the Bernstein 40th Annual Strategic Decisions Conference 2024. The presentation is scheduled for 9 a.m. Eastern Time on Thursday, May 30, in New York. A live audio webcast will be available on the U.S. Bank Investor Relations website, with a replay accessible post-event.

Jolene Jackelen, vice president on the annuity product team at U.S. Bank, has volunteered with Helping Paws MN for 15 years, training service dogs to assist people with disabilities and PTSD. Jackelen, who has trained two service dogs, integrates this work with her role at U.S. Bank, bringing dogs to the office for training. Helping Paws MN, an organization that started in 1985, focuses on training Golden and Labrador Retrievers. Jackelen highlights the importance of service dogs and the distinction from therapy or emotional support animals. U.S. Bank also promotes digital accessibility in its services, integrating inclusive practices to benefit all users.

For the fourth consecutive year, U.S. Bank has been ranked highest in customer satisfaction for retail banking in California by J.D. Power. The 2024 U.S. Retail Banking Satisfaction Study evaluated customer satisfaction across seven dimensions including trust, customer service, account offerings, and digital channels. U.S. Bank's recent acquisition of MUFG Union Bank added over 1 million consumer clients and 190,000 small business clients. This expansion has helped U.S. Bank climb from 10th to 4th in deposit position in California. Executives attribute this success to their commitment to client-centric services and advanced digital products.

Delphine Pruitt, a seasoned finance professional with over 25 years of experience, is making significant strides in supporting Black-owned businesses in Southern California. Recently honored with a Presidential Lifetime Achievement Award and an honorary doctorate, Pruitt's work through U.S. Bank's Access Commitment® is bridging financial gaps and fostering economic growth in underserved communities.

Pruitt's efforts include mentoring business owners like Omoné O. Livingston of O2EPCM, Inc. and Anthony 'Tony' Jolly of Crenshaw Coffee Co., both of whom have benefited from her guidance and U.S. Bank's resources.

This initiative, celebrated during Small Business Month, highlights U.S. Bank's dedication to closing the wealth gap and supporting minority entrepreneurs through personalized financial services and community engagement.

U.S. Bank volunteers joined the annual Women's Build event with Habitat for Humanity of Greater Sacramento, emphasizing the importance of affordable housing and community development. Through volunteerism and financial contributions, the bank continues to support sustainable housing initiatives.

The U.S. Bank Foundation distributed $15 million in grants from the Opportunity Fund to support low- to moderate-income communities, focusing on wealth-building opportunities for rural, Native American, and communities of color. Lead for America received funding to bridge the digital divide in rural areas through the American Connection Corps program. The grants also support small businesses, affordable housing, homeownership, and economic development initiatives.

U.S. Bancorp (NYSE: USB) has promoted Gunjan Kedia as the new president, overseeing all revenue lines to ensure growth and enhance client experiences. Kedia brings nearly 30 years of financial services experience and a track record of success, recognized for her leadership and influence in the industry.

Napa Recycling, a longtime bank client, has experienced growth over the years while focusing on environmental protection. The company processes 300,000 tons of organic waste and 60,000 tons of recyclables annually, employing 240 people. They have expanded their services to include all recyclable products and organic materials, using innovative sorting and processing methods. Napa Recycling's partnership with U.S. Bank has been beneficial, allowing for major expansions using California municipal bonds.

The U.S. Bank Freight Payment Index reported a significant contraction in the U.S. truck freight market in the first quarter of 2024. Spending by shippers fell 27.9% year-over-year, while shipment volume dropped 21.6%. All regions, except the Southwest, experienced declines in shipments and spending. The Northeast had the largest contractions, impacted by bad weather and softer retail sales.