U.S. Bancorp operates as the parent company of U.S. Bank National Association, with recurring news centered on banking results, product development, payments, wealth management, and commercial client services. Coverage includes retail and commercial banking, credit cards, mortgages, trust and wealth services, capital markets activity, and payment solutions delivered through Elavon.
Company updates also cover healthcare business banking, including practice lending and healthcare payments; freight-payment data from the U.S. Bank Freight Payment Index; sports finance and wealth-management partnerships; and earnings releases and conference-call materials tied to the bank’s financial performance.
U.S. Bank National Association announced the redemption of its outstanding 3.45% Senior Notes and Floating Rate Senior Notes, both due November 16, 2021, effective October 15, 2021. The redemption price will be $1,000 per $1,000 original principal amount, including any accrued interest. Payments will be processed via The Depository Trust Company. U.S. Bancorp, the parent company, manages $559 billion in assets and serves customers globally through various banking services, recognized for its commitment to digital innovation and customer service.
U.S. Bancorp has announced its decision to acquire MUFG Union Bank for approximately $8 billion, enhancing its presence on the West Coast. The deal focuses on retaining all front-line branch employees and integrating technologies to serve over 1 million consumer and 190,000 small business customers. The acquisition is expected to elevate U.S. Bancorp's market ranking in California from 10th to 5th. The transaction is projected to add roughly $900 million in cost synergies and be accretive to earnings per share by 6% in 2023.
U.S. Bancorp (NYSE: USB) will announce its Q3 2021 earnings before market opening on October 14. A conference call, led by CEO Andy Cecere and CFO Terry Dolan, is scheduled for 7 a.m. CT to review results, accessible via phone and online.
A recording will be available post-call until October 21. The company had $559 billion in assets as of June 30, 2021, and is recognized for its digital innovation and customer service.
U.S. Bank’s community development entity (USBCDE) has received $65 million in tax credit allocations from the U.S. Department of Treasury under the New Market Tax Credit (NMTC) program. The investment aims to enhance economic outcomes in lower-income communities, with USBCDE focusing on supporting projects that advance racial equity. To date, USBCDE has invested over $820 million, resulting in more than 47,000 jobs created and expanding community services for over 1.1 million people annually.
The Board of Directors of U.S. Bancorp (NYSE: USB) has declared a regular quarterly dividend of $0.46 per common share, payable on October 15, 2021, to stockholders of record by September 30, 2021. This results in an annual dividend of $1.84 per share. Additionally, dividends for various series of Non-Cumulative Perpetual Preferred Stock were also declared, including $894.444 per Series A share and $223.611 per Series B share, among others. U.S. Bancorp, with $559 billion in assets as of June 30, 2021, continues to be recognized for its digital innovation and customer service.
The Canadian Chamber of Commerce has named Elavon as its referral partner, enhancing payment solutions for over 200,000 member businesses. This partnership aims to streamline payment acceptance through advanced acquiring capabilities and flexible tools for debit and credit transactions. Elavon, operating in Canada since 2005, provides services that meet the growing demand for contactless payment options. Members will benefit from preferred pricing and a seamless integration experience, improving customer interactions and reducing fraud risk.
U.S. Bancorp (NYSE: USB) has announced that Chairman, President, and CEO Andy Cecere, along with Vice Chair and CFO Terry Dolan, will present at the Barclays Global Financial Services Conference. The virtual event is scheduled for 1:15 p.m. ET on Tuesday, September 14. Interested stakeholders can access a live webcast via the Investor Relations website on the day of the conference, with a replay available for one year. U.S. Bancorp, with approximately 70,000 employees and $559 billion in assets as of June 30, 2021, is recognized for its digital innovation and customer service.
U.S. Bank has partnered with Mastercard to launch the U.S. Bank Voyager Mastercard, a dual-network fleet card enhancing flexibility for fleet-related expenses. This card can be used at over 320,000 locations across the U.S. and anywhere Mastercard is accepted. It allows for a broader range of purchases including toll fees, emergency repairs, and travel costs. Enhanced features include spend control, visibility, and additional benefits like MasterRental Insurance. This collaboration aims to streamline fleet operations and improve productivity.
U.S. Bank has announced the acquisition of Bento Technologies, a fintech firm specializing in payment and expense management for small to mid-size businesses. This move aims to enhance U.S. Bank's offerings by integrating Bento's innovative tools with existing services, promoting a streamlined financial management experience for business clients. The transaction, which was signed on August 11, 2021, is expected to close in September 2021. Financial details remain undisclosed, yet the acquisition aligns with U.S. Bank's vision of simplifying cash flow management.
U.S. Bancorp announced the redemption of all outstanding 3.25% Medium-Term Notes, Series X, on August 17, 2021, with a redemption price of $1,000 per $1,000 principal amount, plus accrued interest. The payment will be processed through The Depository Trust Company. As of June 30, 2021, U.S. Bancorp had nearly 70,000 employees and assets amounting to $559 billion, offering a diverse range of banking and financial services, recognized for digital innovation and social responsibility.