Us Bancorp - USB STOCK NEWS

U.S. Bancorp (NYSE: USB) will have Vice Chair of Payment Services, Shailesh Kotwal, and Vice Chair of Consumer and Business Banking, Tim Welsh, presenting at the Deutsche Bank Global Financial Services Conference. The virtual event is scheduled for 2:50 p.m. ET on June 2. A live webcast will be accessible on the U.S. Bank Investor Relations website, with a replay available for one year. U.S. Bancorp, a leading commercial bank, has nearly 70,000 employees and $553 billion in assets as of March 31, 2021.

The recent survey by U.S. Bank reveals that CFOs are optimistic about future growth despite challenges posed by COVID-19. Among the 300 surveyed finance leaders, 39% believe risk and compliance areas need digital transformation. Obstacles include resistance to change and lack of technical awareness. Over 70% are enhancing ESG initiatives, with 32% prioritizing cash flow improvement. Many finance leaders plan to continue flexible budgeting and increased tech investments post-pandemic. U.S. Bank, a major player in the financial sector, emphasizes the need for finance functions to adapt for long-term success.

U.S. Bank announces the launch of the $25 million U.S. Bank Access Fund aimed at supporting women of color microbusiness owners, prioritizing Black women. This initiative will provide long-term investments through grants and capital funding to three partners: the African American Alliance of Black CDFI CEOs, Grameen America, and Local Initiatives Support Corporation. Over three years, the fund aims to assist more than 30,000 women-led microbusinesses with access to capital, technical assistance, and networking opportunities, which is critical in addressing economic disparities.

U.S. Bank is enhancing its services for Special Purpose Acquisition Companies (SPACs), offering comprehensive regulatory and accounting support tailored to the unique needs of SPAC sponsors. With a proven track record, the bank aims to streamline processes and boost efficiency through integrated solutions. The SPAC market has seen significant growth, reaching $79 billion in gross proceeds in 2020. U.S. Bank's offerings include establishing segregated trust accounts, fund management, tax reporting, and investment record maintenance to fully support SPAC sponsors in their financial endeavors.

U.S. Bancorp announced its first quarter 2021 financial results, accessible on their investor relations page. CEO Andy Cecere and CFO Terry Dolan will host a conference call to discuss these results today at 10 a.m. CT. The bank, which holds $554 billion in assets and employs nearly 70,000, is committed to providing digital and personal banking services. U.S. Bancorp continues to be recognized for its ethical practices and climate change initiatives, standing among the top 5% of global companies evaluated for sustainability.

U.S. Bancorp will redeem all outstanding 4.125% Medium-Term Notes, Series T, on April 23, 2021. The redemption price is $1,000 for each $1,000 principal, plus any accrued interest up to the redemption date. The redemption will be processed through The Depository Trust Company. U.S. Bancorp, which has nearly 70,000 employees and $554 billion in assets, ranks as the fifth-largest commercial bank in the U.S. The bank is dedicated to customer service through a blend of digital tools and personal banking.

U.S. Bank has appointed John C. Stern as president of its Global Corporate Trust and Custody business, effective May 17, 2021. Stern, a 20-year veteran of U.S. Bank, previously served as U.S. Bancorp's Corporate Treasurer, overseeing essential treasury functions. He succeeds Joseph Giordano, who is retiring after significant contributions to the corporate trust sector. U.S. Bank's Corporate Trust and Custody division is noted for its leadership in serving diverse clients, managing over $8.2 trillion in assets under custody and administration.

U.S. Bank has announced an additional $60,000 in support for Asian American and Asian Pacific Islander (AAPI) communities to combat violence and bias. Grants will benefit various AAPI organizations across California, Atlanta, Seattle, and the Twin Cities. Chief Diversity Officer Greg Cunningham emphasized the importance of standing against violence towards AAPI individuals. Recipients of the grants include the Coalition of Asian American Leaders and the Chinese Information Service Center, among others. U.S. Bank continues its commitment to support AAPI communities through local organizations and initiatives.