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U.S. Bancorp (stylized as us bancorp) is an American multinational financial services firm headquartered in Minneapolis, Minnesota and incorporated in Delaware. It is the 5th-largest bank in the United States as of 2025. As the largest bank in the Midwestern United States, it is considered systemically important by the Financial Stability Board.
Under Davis' leadership, U.S. Bank earned the 2011 Spirit of America Award, the highest honor bestowed upon a company by United Way. [15] U.S. Bancorp was awarded the 2013 Freedom Award, the highest recognition given by the U.S. Department of Defense to employers for their support of employees who serve in the National Guard and Reserve . [ 16 ]
Jerry was a vice president of Security Pacific Bank and Bank of America in the early 1990s. [2] He left Bank of America to join Star Banc Corporation in 1993. [2]In 1993, he became the CEO of Star Banc Corporation and held that position until 1998, when it merged with Firstar Corporation, where he continued as CEO. [3]
Turning to inside investors, the largest inside owner is Richard Davis, U.S. Bancorp's chairman and chief executive officer. The second largest holder is David O'Maley, a director of the bank.
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In 1992, the name of the broker-dealer changed from Piper Jaffray & Hopwood Incorporated to Piper Jaffray Inc. [5] In 1998, the firm was acquired by U.S. Bancorp, also based in Minneapolis, for $730 million in cash. [3] From 1999 to 2003, the firm was known as U.S. Bancorp Piper Jaffray.
Elavon Inc., formerly NOVA, is a processor of card transactions and a subsidiary of U.S. Bancorp.Elavon offers merchant processing in more than 30 countries and supports the payment needs of more than 1,000,000 merchant locations across the globe.
He served as Chairman (1990–1997 and 1999–2002), Chief Executive Officer (1990–2001) and President (1990–1999 and 2000–2001) of U.S. Bancorp (formerly First Bank System), [7] a financial services provider. On retirement he was succeeded by his brother Jerry Grundhofer.