US Bancorp

About US Bancorp

US Bancorp traces its origins to the First National Bank of Cincinnati, chartered in 1863 during the Civil War. US Bancorp grew through dozens of acquisitions of small Midwestern banks. The bank acquired Union Bank of California in 2005, expanding to the West Coast. US Bancorp is known for conservative risk management and consistently high returns. Warren Buffetts Berkshire Hathaway was a major shareholder. US Bancorp acquired Union Bank in 2022, expanding further in California. The bank has over 600 billion in assets. US Bancorp avoids large investment banking, focusing on consumer banking, payments, and wealth management. This conservative approach helped it avoid major losses in 2008.