U.S. Bancorp

U.S. Bancorp is an American diversified financial services holding company headquartered in Minneapolis, Minnesota. It is the parent company of U.S. Bank National Association, the seventh largest bank in the United States based on $416.0 billion in assets (as of September 30, 2015 per official FDIC data) and fourth largest in the US in total branches. U.S. Bank ranks as the fifth largest bank in the U.S. based on deposits, with $263.7B in deposits as of June 30, 2014. U.S. Bank's branch network serves 25 Midwestern and Western states with 3,151 banking offices and 5,001 ATMs. U.S. Bancorp offers regional consumer and business banking and wealth management services, national wholesale and trust services and global payments services to over 15.8 million customers. The company employs over 65,000 people.

U.S. Bank is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury.

History

Foundations

U.S. Bank was formed during the 1990s through the acquisitions of several major regional banks in the West and Midwest. Those banks, in turn, had grown from the mergers of numerous smaller banks throughout the years. Since 1988 U.S. Bank has acquired or merged with over 50 banks.

U.S. Bancorp Tower

The U.S. Bancorp Tower is a 42-story, 163.38 m (536.0 ft) skyscraper in Portland, Oregon. It is the second tallest building in the city after Wells Fargo Center, and with its nearly 69,000 m² (740,000 sq ft) office space, it's the largest in Oregon in terms of volume.

History

Designed by Skidmore, Owings and Merrill (SOM) with Pietro Belluschi as the consultant, the tower cost $60 million to construct. Ground was broken on May 29, 1981, and the building was largely completed in June 1983. It was dedicated on December 1, 1983. The tower adjoins U.S. Bank Plaza at 555 SW Oak Street, a 7-story, 497,800 sq ft (46,250 m²) building constructed in 1974. A tower expected to rise about 37 stories was already part of the bank's long-term site plans at that earlier date, but that phase of the plans ended up being delayed until the 1980s.

Originally, the building served as the national headquarters of U.S. Bancorp, and was the regional headquarters of that organization until a 1997 merger moved the corporate offices to Minneapolis, Minnesota. U.S. Bancorp has 480,000 sq ft (45,000 m²) leased until 2015.