U.S. Bank

Office address: 800 Nicollet Mall, Minneapolis, MN 55402
Website: usbank.com
Year established: 1863
Company type: banking
Employees: 70,000+
Expertise: consumer banking, business banking, payment services, wealth management, asset management, commercial lending, mortgage services, digital banking, treasury management, corporate banking
Parent company: US Bancorp
Key people: Gunjan Kedia (CEO); John Stern (CFO); Stephen Philipson and Mark Runkel (vice chairs); Courtney Kelso, Arijit Roy, and Felicia La Forgia (senior EVPs)
Financing status: corporation

US Bank is a leading commercial bank, serving millions through branches and digital tools. The company is based in Minneapolis, Minnesota, with about 70,000 employees and more than 2,000 locations across 26 states. It is part of US Bancorp, a Fortune 500 company with $664 billion in assets and $27 billion in yearly revenue as of 2024.

History of U.S. Bank

US Bank’s story began in 1863, when First National Bank of Cincinnati received a national charter during Abraham Lincoln’s presidency. Over time, the company grew by merging with other historic banks, including First National Bank of Minneapolis and United States National Bank of Portland.

Historic moments

The company’s past includes unique events like the 1889 Telluride branch robbery by Butch Cassidy. In 1929, a predecessor bank helped finance Charles Lindbergh’s transatlantic flight, showing an early connection to American milestones. During the Great Depression, US Bank’s predecessor stood out by keeping customer withdrawals unrestricted.

Innovation and expansion

US Bank launched drive-up branches in the 1950s and added automated teller machines in the 1970s. The company supported Sam Walton’s first Walmart store outside Arkansas in the 1960s and has since built relationships with many Fortune 500 companies. By the 1990s, it was leading in digital banking, with online services that now handle most consumer transactions.

U.S. Bank’s growth and leadership

A series of mergers in the late 1990s and early 2000s brought together banks from several states under the US Bank name. Recent years have seen more digital innovation, community giving, and the 2022 acquisition of MUFG Union Bank.

In 2024, US Bank combined several teams into a new private capital division to better serve clients seeking specialized investment solutions. In 2025, Gunjan Kedia became president and CEO, guiding the company’s ongoing growth.

U.S. Bank’s products and services 

US Bank offers a range of investment products and services for individuals, businesses, and institutions:

Individual and family investment services

• self-directed investing: trade stocks, bonds, mutual funds, ETFs, and options online
• Wealth Connect: work with a financial advisor for custom strategies
• personalized guidance: get tailored advice from wealth specialists
• investment management: access goals-based portfolios and ongoing monitoring
• market insights: receive updates and research for investment decisions
• digital investing tools: manage accounts and track performance online or in the US Bank mobile app

Institutional and business investment services

• custody solutions: asset protection and management for institutions
• global corporate trust: trust lifecycle management for companies and government bodies
• global fund services: fund administration for mutual funds, ETFs, and alternatives in the US and Europe
• industry investment services: specialized teams for real estate, healthcare, energy, and more
• alternative investment solutions: support for private equity, hedge funds, and real assets

Brokerage and advisory services

• brokerage accounts: buy and sell securities through US Bancorp Investments and US Bancorp Advisors
• investment advisory accounts: managed account solutions and fiduciary oversight
• insurance products: annuities and insurance-based investments through US Bancorp Investments
• retirement planning: IRAs, 401(k) rollovers, and retirement strategies

US Bank combines digital tools with expert advice for a full investment experience. Clients can access both personal and institutional solutions.

Culture and corporate values

US Bank states that its workplace culture is built on growth, discovery, and a long history in banking. According to the company, employees are encouraged to share ideas and help shape an evolving legacy. Their values include:

• ethical culture
• safe workplace
• doing the right thing
• intentional culture
• code of ethics
• support during change

US Bank’s work environment and benefits support wellbeing, professional growth, and success for all team members. Benefits include:

• health and wellness plans
• dental and vision coverage
• 401(k) savings plan and pension
• paid vacation and holidays
• parental leave and adoption assistance
• tuition reimbursement
• flexible spending and health savings accounts
• disability and life insurance
• employee assistance program
• commuter and discount programs
• volunteer time off and community support

The company also supports inclusion through Business Resource Groups, which help staff connect and grow. These groups empower employees to contribute to both the company and local communities.

About CEO Gunjan Kedia and key people

Gunjan Kedia is president and CEO of US Bancorp and serves on the board of directors. Before this, Kedia led the company’s business lines and held senior roles at State Street Financial and BNY Mellon. She holds an MBA from Carnegie Mellon and a bachelor’s in engineering from Delhi School of Engineering.

Here are some of the key people leading the bank’s main business lines and strategy:

• John Stern serves as vice chair and CFO, overseeing financial strategy and reporting for the company
• Stephen Philipson leads as vice chair and head of wealth, corporate, commercial and institutional banking, managing large client relationships
• Mark G. Runkel acts as vice chair and head of payments: merchants and institutional, focusing on payment solutions for business clients
• Courtney Kelso is senior executive VP and head of payments: consumer and small business, guiding payment products for individuals and entrepreneurs
• Arijit Roy works as senior executive VP and head of consumer and business banking products, developing new banking products and services
• Felicia La Forgia serves as senior executive VP and head of the institutional client group, supporting institutional client relationships and growth

The managing committee brings together leaders with deep industry knowledge and a focus on innovation.

The future at U.S. Bank

US Bank launched the Access Commitment strategy to help close the wealth gap for African Americans near its Minneapolis headquarters. The company focused on boosting financial education, homeownership, and access to resources in underserved communities. This effort supports US Bank’s future by building stronger community relationships and helping clients achieve long-term financial stability.

It also released its 2025 Wealth Report to better understand how Americans feel about reaching financial goals. The firm found that many people, especially younger adults, feel uncertain about homeownership and retirement due to economic pressures. US Bank uses these insights to guide clients toward practical financial planning and greater confidence.