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U.S. Bancorp
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Latest analysis
Updated Aug 6, 2026
U.S. Bancorp acquires BTIG for $395M cash plus equity; expects $275M earnout over three years.
U.S. Bancorp completed the acquisition of BTIG, a global institutional trading and investment banking firm, for $395 million in cash and 6.6 million shares of common stock on June 1, 2026, with up to $275 million in contingent cash consideration tied to performance over the next three years. The deal introduces $613 million in goodwill and is expected to expand fee revenue in the Wealth, Corporate, Commercial and Institutional Banking segment through BTIG's brokerage and research offerings. Investment securities held-to-maturity balances declined modestly, with residential agency mortgage-backed securities showing material mark-to-market losses of $9.5 billion, while available-for-sale portfolios remain broadly stable quarter-over-quarter.
Tone: neutralRevenue
$28.7B
USB 10-K · FY 2025
Employees
68,520
Revenue FY2024
$27.5B
Headquarters
Minneapolis, MN
Profile
USB 10-K Item 1 · Feb 23, 2026U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, operating through its principal banking subsidiary U.S. Bank National Association. It provides commercial and consumer banking, payment services, wealth management, capital markets, and trust and investment management across 26 states, primarily in the Midwest and West. The company also offers credit card, merchant processing, mortgage banking, insurance, brokerage, and leasing services.
Read filing description ↓ Collapse description ↑
U.S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, serving millions of local, national and global customers. U.S. Bancorp is registered as a bank holding company under the Bank Holding Company Act of 1956, and has elected to be treated as a financial holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and ATM processing, mortgage banking, insurance, brokerage and leasing. U.S. Bancorp's banking subsidiary, U.S. Bank National Association, is engaged in the general banking business, principally in domestic markets, and holds all of the Company's consolidated deposits of $522.2 billion at December 31, 2025. USBNA provides a wide range of products and services to individuals, businesses, institutional organizations, governmental entities and other financial institutions. Commercial and consumer lending services are principally offered to customers within the Company's domestic markets, to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company, such as healthcare, utilities, oil and gas, and state and municipal government. Banking and investment services are provided through a network of 2,075 branches across 26 states as of December 31, 2025. The Company operates a network of 4,428 ATMs and is also one of the largest providers of corporate and purchasing card services and corporate trust services in the United States.
Primary products
- Lending and depository services
- Cash management
- Capital markets
- Trust and investment management services
- Credit card services
- Merchant and ATM processing
Business segments
End markets
Geographies
“The Company is also one of the largest providers of corporate and purchasing card services and corporate trust services in the United States.” Competitive position, as stated in the filing
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