Welcome to our dedicated page for Us Bancorp news (Ticker: USB), a resource for investors and traders seeking the latest updates and insights on Us Bancorp stock.
U.S. Bancorp (USB) generates a steady flow of news across banking, payments, capital markets and corporate finance. As the parent of U.S. Bank National Association and a large U.S. financial institution headquartered in Minneapolis, its announcements cover topics ranging from earnings and dividends to product launches, partnerships and regulatory matters. Investors and observers following USB news can see how the company’s diversified mix of consumer, business, commercial, institutional, payments and wealth management businesses evolves over time.
Recent press releases highlight several themes. In capital markets, U.S. Bancorp disclosed a definitive agreement to acquire the parent of BTIG, a financial services firm specializing in investment banking, institutional sales and trading, research and prime brokerage. The company presents this transaction as a way to add institutional equity sales and trading, equity capital markets, equity electronic trading and M&A advisory capabilities, reinforcing its presence in investment grade bond and syndicated loan markets and expanding into areas such as commodities, structured credit and subscription finance.
On the banking and payments side, news items include details on quarterly earnings conference calls, changes to the prime lending rate, and regular quarterly dividends on common and preferred shares. U.S. Bancorp also announces new products and partnerships, such as the U.S. Bank Split World Mastercard, the Avvance point-of-sale lending platform, an expanded co-branded credit card relationship with AAA – The Auto Club Group, and an expanded coin deposit partnership with Coinstar.
For corporate and institutional clients, U.S. Bancorp has publicized the launch of U.S. Bank Liquidity Manager powered by Kyriba, an AI-enabled cash forecasting and liquidity management tool accessed through its SinglePoint treasury platform. Conference appearances and investor presentations are also announced through news releases. Together, these updates provide insight into how U.S. Bancorp manages its balance sheet, capital markets strategy, digital initiatives and customer partnerships.
U.S. Bank showcases the strong partnership between District Manager Tony Dansberry and entrepreneur Johnny Little, CEO of eLittle Communications Group. Their collaboration began in 2016, focusing on business growth and community development in Ferguson, Missouri. Little's restaurant, Elicious, opened in November 2021, benefiting from a U.S. Bank loan for renovations. He has initiated scholarships for local students and celebrates Black History Month with special dishes. The success of Little's ventures highlights U.S. Bank's commitment to supporting local entrepreneurs and enhancing community perception.
U.S. Bank and Mastercard have introduced the new U.S. Bank Business Altitude™ Connect World Elite Mastercard aimed at enhancing rewards for business travelers. This card offers up to 5x rewards on prepaid car and hotel bookings, and 4x rewards on other travel expenses including airfare and gas. Cardholders can also earn 2x rewards on dining and cell phone services, and 1x on all other purchases. The card carries no annual fee in the first year and a $95 fee thereafter, with additional benefits like no foreign transaction fees and airport lounge access. U.S. Bank anticipates a recovery in business travel, positioning this card as an essential tool for small businesses.
U.S. Bank launched the Business Access Advisor (BAA) program to assist minority-owned small businesses, addressing gaps in information, connections, and capital. Micae Brown, a BAA, helped Melvin Cannon expand his luxury vehicle service, showcasing the program's impact. In 2022, over 1,000 business owners were served, with significant recognition from the Small Business Administration. The initiative is part of U.S. Bank's Access Commitment, focusing on financial education and tailored support for diverse entrepreneurs across various cities. The program aims to boost minority business growth, especially post the COVID-19 financial downturn.
U.S. Bank awarded scholarships totaling $45,500 to students in various health-related fields. The grand prize of $14,000 went to Valerie Coakley, a medical lab science student at Andrews University, who expressed relief as the funds cover her entire semester. The first prize of $10,000 was awarded to Hannah Bees, a rehab health and kinesiology student at Buena Vista University. Over 32,000 applicants participated in the scholarship program, which emphasizes financial education through required modules. This initiative aims to enhance students' financial literacy as they pursue their education.
VinFast has appointed U.S. Bank (NYSE: USB) as its preferred provider for retail financing and leasing of its vehicles in the United States. This partnership aims to provide customers with competitive financing options and enhanced customer service at VinFast showrooms and online. U.S. Bank will facilitate a seamless, secure digital financing experience for VinFast customers. The announcement coincides with VinFast's plans to open new showrooms in California and expand its presence across the country. As of December 31, 2022, U.S. Bancorp, the parent company of U.S. Bank, reported $675 billion in assets.
U.S. Bank has released findings from a study on its Student Scholarship Program, revealing significant benefits in enhancing financial wellness among participants. The program offers students online modules that cover essential financial topics and provides a chance to win scholarships totaling up to $14,000. Key findings indicate that financial confidence among students increased from less than 10% to over 40% after completing the modules. Notably, students of color experienced a 350% increase in confidence. U.S. Bank plans to enhance the program with gamified content and broader topic variety in 2023.
U.S. Bancorp (NYSE: USB) has announced an increase in its prime lending rate to 7.75% from 7.50%, effective February 2, 2023. This change will apply to all U.S. Bank and Union Bank locations. U.S. Bancorp, headquartered in Minneapolis, has approximately 77,000 employees and $675 billion in assets as of December 31, 2022. The company offers a diverse range of services, including consumer and business banking, payment services, corporate banking, and wealth management. U.S. Bancorp is recognized for its commitment to digital innovation and customer service, recently being honored as one of the World’s Most Ethical Companies.
U.S. Bancorp Asset Management has appointed Jim Link as head of its Institutional Outsourced Chief Investment Officer (OCIO) practice within PFM Asset Management. With 34 years of experience, Link aims to enhance the market presence of the OCIO practice by unifying offerings and developing client-focused strategies. The OCIO segment is growing, driven by portfolio complexity and market volatility, prompting institutions to seek agile management solutions. U.S. Bancorp, with $675 billion in assets as of December 31, 2022, continues to strengthen its OCIO capabilities, positioning itself for growth in this competitive market.
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