U.S. Bancorp (USB) is a financial services holding company headquartered in Minneapolis, Minnesota, primarily operating in the United States. The company offers a broad range of financial services, including lending, depository services, cash management, capital markets, and trust and investment management services. Additionally, USB provides credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage, and leasing . The company's major lines of business include Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support .
- Wealth, Corporate, Commercial and Institutional Banking - Provides core banking, specialized lending, transaction and payment processing, capital markets, asset management, and brokerage and investment-related services to wealth, middle market, large corporate, government, and institutional clients.
- Consumer and Business Banking - Offers consumer banking, small business banking, and consumer lending through various channels such as banking offices, online services, and mobile devices.
- Payment Services - Includes consumer and business credit cards, stored-value cards, debit cards, and merchant processing.
- Treasury and Corporate Support - Encompasses investment portfolios, funding, capital management, and interest rate risk management.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Andrew Cecere ExecutiveBoard | Chairman and CEO (transitioning to Executive Chairman) | None | Andrew Cecere has been with U.S. Bancorp since 2000, holding various leadership roles. He will transition to Executive Chairman in April 2025. | View Report → |
Arijit Roy Executive | Head of Consumer and Business Banking Products | None | Arijit Roy joined U.S. Bank in 2022 and leads the Consumer and Business Banking products organization. | |
Gunjan Kedia Executive | President and CEO (effective April 15, 2025) | PBS, Junior Achievement USA, Carnegie Mellon Business School | Gunjan Kedia joined U.S. Bancorp in 2016 and has held several leadership positions, including Vice Chair of Wealth, Corporate, Commercial & Institutional Banking. | |
John C. Stern Executive | Senior Executive Vice President and CFO | None | John C. Stern joined U.S. Bancorp in 2000 and became CFO in September 2023. | |
Sekou Kaalund Executive | Head of Branch Banking | None | Sekou Kaalund is the head of Branch Banking at U.S. Bank, reporting to Gunjan Kedia. | |
Shailesh M. Kotwal Executive | Vice Chair, Payment Services | Board Member at Elavon Financial Services | Shailesh M. Kotwal has been with U.S. Bancorp since 2015 and will retire in the first half of 2025. | |
Terrance R. Dolan Executive | Vice Chair and Chief Administration Officer | None | Terrance R. Dolan has been with U.S. Bancorp since 1998 and became Chief Administration Officer in September 2023. | |
Tom Wind Executive | Head of Consumer Lending | None | Tom Wind is the head of Consumer Lending at U.S. Bank, reporting to Gunjan Kedia. | |
Alan B. Colberg Board | Director | Board Member at Corebridge Financial, Inc. | Alan B. Colberg joined the U.S. Bancorp Board in 2023 and brings financial services and risk management expertise. | |
Aleem Gillani Board | Director | Board Member at Freddie Mac | Aleem Gillani joined the U.S. Bancorp Board in 2024 and has a background in financial services and risk management. | |
Dorothy J. Bridges Board | Director | CEO of Metropolitan Economic Development Association (Meda) | Dorothy J. Bridges has been a director at U.S. Bancorp since 2018 and chairs the Public Responsibility Committee. | |
Elizabeth L. Buse Board | Director | Board Member at F5, Inc. | Elizabeth L. Buse has been a director at U.S. Bancorp since 2018 and brings financial services expertise from her roles at Monitise and Visa. | |
John P. Wiehoff Board | Director | Director at Polaris Industries, Inc., Union Pacific Corporation | John P. Wiehoff has been a director at U.S. Bancorp since 2020 and serves on several boards. | |
Kimberly J. Harris Board | Director | Director at American Water Works Company, Inc., Ameren Corporation | Kimberly J. Harris has been a director at U.S. Bancorp since 2014 and is involved in several committees. | |
Kimberly N. Ellison-Taylor Board | Director | Board Member at EverCommerce Inc., Marathon Petroleum Corporation | Kimberly N. Ellison-Taylor has been a director at U.S. Bancorp since 2021 and has extensive experience in technology and finance. | |
Loretta E. Reynolds Board | Director | CEO of LEReynolds Group, LLC | Loretta E. Reynolds has been a director at U.S. Bancorp since 2022 and brings cybersecurity and risk management expertise. | |
Richard P. McKenney Board | Director | CEO of Unum Group | Richard P. McKenney has been a director at U.S. Bancorp since 2017 and is the CEO of Unum Group. | |
Roland A. Hernandez Board | Lead Independent Director | Director at Fox Corporation, Take-Two Interactive Software, Inc. | Roland A. Hernandez has been a director at U.S. Bancorp since 2012 and has played a significant role in overseeing the company's strategy and governance. | |
Scott W. Wine Board | Director | CEO of CNH Industrial N.V. | Scott W. Wine has been a director at U.S. Bancorp since 2014 and will not stand for re-election after the 2025 Annual Meeting. | |
Warner L. Baxter Board | Director | Former Executive Chairman of Ameren Corporation | Warner L. Baxter has been a director at U.S. Bancorp since 2015 and has extensive experience in the utility industry. | |
Yusuf I. Mehdi Board | Director | Executive Vice President, Consumer Chief Marketing Officer at Microsoft | Yusuf I. Mehdi has been a director at U.S. Bancorp since 2018 and chairs the Cybersecurity and Technology Subcommittee. |
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Can you provide an update on your search for a new head of payments, and elaborate on whether this leadership change might lead to significant strategic shifts, given concerns that U.S. Bank may have underperformed in its payments business?
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With some of your peers expanding their branch networks into new territories, how do you plan to achieve organic growth while balancing investments in branches and digital capabilities, especially in high-growth areas within your current footprint?
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As you approach the $700 billion asset threshold to become a Category 2 bank in 2027, are there any constraints or disadvantages you anticipate in pursuing loan growth due to regulatory considerations?
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Following the less-than-expected investor reception to your recent Investor Day, particularly regarding your Southeast expansion plans, how do you address these concerns, and what factors would prompt you to accelerate share repurchases under your $5 billion authorization?
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Given the current M&A environment and your focus on organic growth, are you completely ruling out bank acquisitions in the Southeast, even small ones, as a means to enhance your growth strategy?
Research analysts who have asked questions during US BANCORP \DE\ earnings calls.
Betsy Graseck
Morgan Stanley
7 questions for USB
Ebrahim Poonawala
Bank of America Securities
7 questions for USB
John Pancari
Evercore ISI
7 questions for USB
Vivek Juneja
JPMorgan Chase & Co.
7 questions for USB
Gerard Cassidy
RBC Capital Markets
6 questions for USB
Michael Mayo
Wells Fargo
6 questions for USB
Saul Martinez
HSBC
6 questions for USB
Erika Najarian
UBS
5 questions for USB
John McDonald
Truist Securities
5 questions for USB
Ken Usdin
Autonomous Research
4 questions for USB
Matthew O'Connor
Deutsche Bank
4 questions for USB
Matt O'Connor
Deutsche Bank
4 questions for USB
Bill Carcache
Wolfe Research, LLC
3 questions for USB
Scott Siefers
Piper Sandler
3 questions for USB
Chris McGratty
KBW
2 questions for USB
Christopher McGratty
Keefe, Bruyette & Woods
2 questions for USB
L. Erika Penala
UBS
2 questions for USB
Robert Siefers
Piper Sandler & Co.
2 questions for USB
David Long
Raymond James Financial, Inc.
1 question for USB
Kenneth Usdin
Jefferies
1 question for USB
Mike Mayo
Wells Fargo
1 question for USB
R. Scott Siefers
Piper Sandler Companies
1 question for USB
Steven Alexopoulos
JPMorgan Chase & Co.
1 question for USB
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
MUFG Union Bank (MUB) | 2023 |
Recent press releases and 8-K filings for USB.
- US Metro Bancorp reported $2.9 million in net income for Q3 2025 (up 69% YoY), with EPS of $0.18 versus $0.11 a year ago.
- On a year-to-date basis, net interest income was $33.1 million (+26%), and net income reached $9.2 million (+45%) through September 30, 2025.
- Total assets climbed to $1.569 billion (+13.2% YoY); gross loans grew by $140 million (12.4%), and deposits rose to $1.384 billion (+13.8%).
- Asset quality metrics showed NPAs at 1.65% of total assets (versus 0.36% a year earlier) and an ACL-to-gross-loans ratio of 1.19%.
- Year-to-date annualized ROAA was 0.72%, ROAE 9.99%, and book value per share reached $6.62, up from $6.11 a year earlier.
- EPS of $1.22, up 18.4% YoY; record net revenue of $7.3 B, with 530 bps positive operating leverage, ROAA 1.17%, NIM 2.75% (Q3 2025).
- Q4 guidance: net interest income ~$4.25 B (stable), fee revenue ~$3 B, non-interest expense +1–1.5% QoQ; 200 bps+ positive operating leverage (Q4 2025).
- Balance sheet: ending assets $695 B; avg. deposits $512 B (+1.8% QoQ); avg. loans $379 B (+0.2% QoQ); NIM 2.75%, +9 bps sequentially (Q3 2025).
- Credit quality: NPAs ratio 0.43% (−1 bp QoQ, −6 bps YoY); net charge-off ratio 0.56% (−3 bps QoQ, −4 bps YoY).
- Capital: CET1 ratio 10.9%, +20 bps QoQ (Q3 2025).
- U.S. Bancorp delivered EPS of $1.22, up 18.4% year-over-year, and a record net revenue of $7.3 billion driven by fee businesses and improved spread income.
- Net interest income (FTE) totaled $4.25 billion , net interest margin was 2.75% , while average deposits reached $512 billion and loans $379 billion.
- Fee revenue increased 9.5% year-over-year to approximately $3.08 billion, enabling positive operating leverage this quarter.
- Credit metrics improved: nonperforming assets ratio was 0.43%, net charge-off ratio 0.56%, and common equity Tier 1 ratio climbed to 10.9%.
- Q4 guidance calls for net interest income to remain around $4.25 billion, fee revenue of about $3.0 billion, noninterest expense up 1–1.5% sequentially, and over 200 bps of positive operating leverage.
- Record net revenue of $7,329 million, including a 9.5% increase in fee revenue year-over-year.
- Net income attributable to U.S. Bancorp of $2,001 million, up 16.7%, and diluted EPS of $1.22, up 18.4% year-over-year.
- Return on tangible common equity of 18.6%, return on average assets of 1.17%, and return on average common equity of 13.5%.
- Net interest margin of 2.75%, efficiency ratio of 57.2%, and 530 basis points of positive operating leverage.
- Common Equity Tier 1 capital ratio of 10.9% at September 30, 2025; average total loans up 1.4% year-over-year to $379.2 billion.
- U.S. Bank has formed a new Digital Assets and Money Movement organization to drive emerging services including stablecoin issuance, cryptocurrency custody, asset tokenization and digital money movement.
- Jamie Walker, a 20-year U.S. Bank payments veteran and current head of Merchant Payment Services (and CEO of Elavon), will lead the unit and report to Chief Digital Officer Dominic Venturo, remaining in his MPS role until a successor is named.
- The group will serve as the bank’s central hub for digital asset strategy and expertise, aiming to accelerate revenue growth across these new digital products.
- The announcement underscores U.S. Bank’s history of payments innovation, from early digital wallets and RTP integration to FedNow and embedded payment solutions.
- USBC, Inc. will participate at the Money20/20 USA conference in Las Vegas from October 26–29, 2025.
- Following its strategic acquisition of a public company this past summer, USBC is unveiling its vision for tokenized deposits as a new era in compliant, programmable digital U.S. dollars.
- The USBC tokenized deposits are backed by an OCC-chartered U.S. bank and underpinned by blockchain technology, offering regulatory and consumer protections along with interest-bearing accounts.
- Chairman and CEO Greg Kidd will join multiple panels, and the USBC team will engage attendees for partnership discussions and product demos.
- U.S. Bancorp’s institutional banking arm was selected as custodian for reserves backing Anchorage Digital Bank’s payment stablecoins, marking an expansion into digital asset services.
- The Wealth, Corporate, Commercial and Institutional Banking division oversees $11.7 trillion in assets under custody and administration as of June 30, 2025.
- Anchorage Digital Bank launched its stablecoin issuance platform in July 2025 under the GENIUS Act, ensuring one-to-one backing by high-quality liquid assets and robust BSA/AML compliance.
- The partnership highlights growing alignment between traditional custodians and crypto-native banks, potentially accelerating institutional stablecoin adoption.
- USBC, Inc. completed its name change from Know Labs, Inc. to USBC, Inc., and its common stock began trading under the new ticker symbol USBC on NYSE American at market open on August 15, 2025.
- The change followed the closing on August 6, 2025 of a $125 million strategic acquisition of a controlling interest by Goldeneye 1995 LLC, an affiliate of newly appointed Chairman and CEO Greg Kidd.
- No action is required by current shareholders, and the company’s CUSIP number remains unchanged.
- Under Mr. Kidd’s leadership, USBC is emphasizing its bitcoin treasury strategy and further development of the USBC deposit token, a U.S. dollar-denominated tokenized deposit built on blockchain with digital identity and high-yield rewards.
- U.S. Bancorp reported Q2 EPS of $1.11 on net revenue of $7.0 bn, delivering 13% YoY adjusted EPS growth, driven by 4.6% fee revenue growth and 250 bps positive operating leverage
- Net interest income was $4.08 bn (NIM down 6 bps QoQ) with deposit beta at 42%; noninterest income of $2.90 bn (or $3.00 bn ex-security losses) grew 4.6% YoY
- Average loans of $379 bn dipped 0.1% QoQ after selling ~$4.6 bn in residential mortgages and $1 bn in auto loans; C&I and credit card loans rose ~7% and 4.4% YoY
- Asset quality remained stable: NPA ratio 0.44%, net charge-offs 0.59%, and ACL at 2.07% of loans
- 3Q25 guidance: NII $4.1–4.2 bn, fee revenue ~$3 bn, noninterest expense ≤$4.2 bn, targeting ≥200 bps positive operating leverage; FY25 net revenue growth at lower end of 3–5% (assumes two rate cuts)
- US Bancorp emphasized expense stabilization and disciplined cost management to drive positive operating leverage and support organic growth initiatives.
- The bank detailed plans to accelerate payments growth by transforming its card issuing and merchant acquiring businesses through a software-led strategy.
- Executives highlighted continued capital building and a focus on net interest margin expansion toward a 3% target over the medium term.
- Strategic partnerships with State Farm and Edward Jones were noted as key to expanding the bank’s digital reach and brand recognition across new markets.