U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, that provides banking, investment, mortgage, trust, payment, and merchant processing services to individual, business, and institutional customers. It earns revenue through net interest income on loans and deposits and fee-based income from payments, trust, mortgage banking, and investment services. The Company operates 2,075 branches across 26 states as of December 31, 2025, with primary concentration in the Midwest and West regions, making it one of the larger bank holding companies in the United States. USB is also one of the largest providers of corporate and purchasing card services and corporate trust services in the country. The Company employs 68,520 people globally as of December 31, 2025. In January 2026, USB announced a definitive agreement to acquire BTIG, an institutional brokerage and trading firm, for up to $1 billion. USB competes with commercial banks, credit unions, fintech companies, investment advisers, and other financial services providers.

Revenue model

Net interest income from loans and deposits, supplemented by fee income from payment processing, corporate trust, mortgage banking, merchant processing, and investment services.

Products and services

Retail and commercial banking, mortgage banking, corporate and purchasing card services, corporate trust and fund administration, merchant processing (domestic and international), digital banking, ATM network (4,428 ATMs as of December 31, 2025), and investment services.

Customers and end markets

Individual consumers, small and mid-size businesses, large corporations, institutional clients, and government entities across the United States, with limited operations in Canada and Europe.

Value-chain role

Direct provider of financial products and services; operates as a regulated bank holding company and financial holding company originating, underwriting, and servicing loans, payments, and trust products.

Geographic exposure

Primarily United States, concentrated in Midwest and West regions across 26 states as of December 31, 2025. Limited international operations in Canada and segments of Europe for merchant processing and corporate trust.

Competitors

Commercial banks, Savings and loan associations, Credit unions, Finance companies, Mortgage banking companies, Investment companies, Credit card companies, Trust companies, Asset managers, Fintech companies

Source: SEC 10-K, filed 2026-02-23

Industry: National Commercial Banks Peers: Bank of America Corp JPMorgan Chase & Co Citigroup Inc Wells Fargo & Co