US Bank can trace its beginnings back to 1891 as the United States National Bank of Portland. U.S. Bancorp operates under the second-oldest continuous national charter, originally Charter #24, granted in 1863 following the passage of the National Bank Act. It became the United States National Bank of Oregon in 1964.
In 1997, the company merged with First Bank System to become U.S. Bancorp.
In 2008, the company received $6.5 billion in US government bailout money. It repaid the loan in mid-2009 and was among the first banks to do so.
In 2009, the company acquired Fiduciary Management’s mutual fund division, First Citizens Bank’s bond division, BB&T Corp, and 9 subsidiary banks from FBOP.
In 2011, the company acquired First Community Bank of New Mexico.
In 2012, the company acquired BankEast.
Today, US Bank is the 5th largest bank in the US with more than 32,000 branches and almost 5,000 ATM’s.