Updated March 14, 2024

Who Owns U.S. Bank?

Read more about US Bank
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. This compensation may impact how and where products appear on this site. You help support CreditDonkey by using our links. (read more)

U.S. Bank is owned by its multiple institutional and individual shareholders. If you're curious about its safety, read on to learn more.

You may have seen a U.S. Bank in your neighborhood, especially if you live in California. But do you know who owns it?

Find out who's behind this mega financial institution and how safe your money is with them.

Who Currently Owns U.S. Bank?

U.S. Bancorp is the parent company of U.S. Bank, one of the largest banks in the nation. It has almost 77,000 employees in 13 countries, raking in an annual revenue of $24 billion.[1]

Headquartered in Minneapolis, Minnesota, U.S. Bank operates in 26 states, concentrating most of its 2,000+ branches in the Western and Midwestern regions. It's notably strong in California, Illinois, Missouri, Ohio, and Washington.

U.S. Bank offers a wide range of financial products for personal banking, wealth management, business, corporate/commercial, and institutional needs.

Meanwhile, U.S. Bancorp has other interests, with subsidiaries like Elavon (credit card processing services), Piper Jaffray (financial services), and Talech (cloud-based software company)

Andrew Cecere leads U.S. Bancorp as its Chairman, President, and CEO.[2] He started out as a financial analyst and joined the finance group of U.S. Bancorp in 1985. As of October 23, 2023, Cecere owns 1,081,432 U.S. Bank shares [3] worth about $34 million.

Is U.S. Bancorp Owned by the Government?

Despite being named as such, neither U.S. Bancorp nor U.S. Bank is owned by the government. Hence, it is not a government bank as some may have thought.

Instead, it is a publicly-traded company, 77.25% of which is owned by institutional investors led by investment titans Vanguard Group and Blackrock.[4]

Blackrock and Vanguard are two of the biggest asset managers in the world, investing heavily in technology, finance, healthcare, consumer, and industrial sectors.[5][6] Their investing interests are in the thousands and have a controlling stake in most.

Who are the Major Shareholders of U.S. Bancorp?

Vanguard is the largest U.S. Bancorp shareholder, with 8.77% ownership while Blackrock owns 7.30%. Their total institutional holdings are valued at $5.15 billion and $4.29 billion, respectively.[7]

Meanwhile, here are the other institutional investors with more than 2% ownership of U.S. Bancorp.

  • State Street Corp. (4.10%):
    State Street Corporation is one of the oldest and most prominent American financial services company founded in 1792. It serves nearly 10% of the world's assets[8] and maintains its headquarters in Boston, Massachusetts.

  • JPMorgan Chase & Co. (3.97%):
    Another financial powerhouse existing for more than 2 centuries, JPMorgan Chase has over $2.6 trillion assets under management in 100+ global markets.[9] It consistently ranks among the largest banks in the world in terms of market capitalization.

  • MUFG Bank Ltd. (4.39%):
    Mitsubishi UFJ Financial Group is the biggest bank in Japan which sold Union Bank to U.S. Bancorp in 2022.[10] As part of the buyout deal, it has roughly 44 million shares of U.S. Bancorp common stock and $5.5 billion in cash.[11]

  • T. Rowe Price Associates Inc. (1.82%):
    T. Rowe Price offers a diverse range of investment products and services, adhering to an active investment management approach.[12] It is a prolific investor, with nearly 3,000 positions valued at $726 billion.[13]

  • FMR LLC (Fidelity Investments) (2.41%):
    Rounding up the list is yet another investment giant. Fidelity Investments boasts serving more than 43 million individual investors, which include young and first-time investors.[14] The company was established in 1946.

Which bank is bigger, Wells Fargo or U.S. Bank?
Although U.S. Bank is a major player in the banking industry, Wells Fargo is bigger than U.S. Bank in terms of market capital and assets exceeding $1.8 trillion.[15] U.S. Bancorp is no slouch either, considering its acquisition of Union Bank. Its assets are valued at $668 billion.[16]

What Banks Did U.S. Bank Take Over?

U.S. Bancorp purchased Mitsubishi UFJ Financial Group (MUFG) Union Bank in December 2022, increasing its customer base by over 1 million.[17] Part of the deal was for MUFG to retain a minority stake of almost 3% in the company.[18]

Other banks bought out by U.S. Bank include:

  • Peoples National Bank of Washington (1987)
  • First Bank System, Inc. (1997)
  • Downey Savings and Loan (2008)[19]

Is U.S. Bank China-owned?
While foreign investors, including those from China, may hold shares in U.S. Bank, the company is not owned by China or any foreign country. It is a U.S.-based financial institution operating under its parent company, U.S. Bancorp.

Now that you know who owns U.S. Bank, the next section will tackle its safety.

Is U.S. Bank Safe?

U.S. Bank, being one of the largest in the country, is generally considered safe by most standards. Their deposit accounts are insured up to $250,000 by the FDIC [20], which is widely used by banks and financial institutions.

It's important to remember that a bank's safety isn't 100% guaranteed, but these factors enhance the safety of your financial transactions with U.S. Bank.

  • Financial strength:
    U.S. Bank, with over 150 years of experience, has weathered economic ups and downs successfully [21]. The bank's commitment to financial discipline, dating back to the Lincoln administration through the National Bank Act, allows it to maintain sound banking principles while adapting to modern times.

    This dedication is reflected in their strong financial performance.

  • Regulation and oversight:
    Just like other banks, U.S. Bank is closely monitored by regulatory agencies like the Office of the Comptroller of the Currency (OCC) and the Federal Reserve to ensure they follow all the rules.

  • Diverse services:
    U.S. Bank boasts many products and services, from basic checking accounts to complex financial planning which help spread the risk around, making it more stable.

  • Cybersecurity:
    With robust fraud prevention systems and secure communication channels, U.S. Bank assures you that you can bank safely with them.[22]

  • Customer support:
    For general banking inquiries, you can call 800-USBANKS (872-2657) and talk to a live agent 24/7.

    You can also use these contact options in your U.S. Bank mobile app: schedule an in-person or phone appointment, chat with a banker online, Smart Assistant, or browse topics under their Help Center.

How stable is U.S. Bank?
U.S. Bank can be considered a very stable financial institution, maintaining a strong performance with a history of profitability, healthy capital levels, and smart risk management practices. It has also passed all periodic regulatory stress tests since 2013.[21]

How do you assess the safety of a bank with multiple institutional and individual shareholders?

Bottom Line

U.S. Bank, a subsidiary of U.S. Bancorp, is owned mostly by institutional giants with Blackrock and Vanguard as its top 2 investors.

While no institution is entirely risk-free, U.S. Bank's reputation, insurance coverage, and regulatory oversight can make it a safe place to entrust and grow your hard-earned money.

References

  1. ^ U.S. Bank. Fact Sheet, Retrieved 10/23/2023
  2. ^ U.S. Bank. Bio Details: Andy Cecere, Retrieved 10/23/2023
  3. ^ Nasdaq. Insider Trades of Cecere Andrew, Retrieved 10/23/2023
  4. ^ Yahoo Finance. U.S. Bancorp (USB), Retrieved 11/29/2023
  5. ^ Nasdaq. Institutional Portfolio - Blackrock Inc., Retrieved 10/23/2023
  6. ^ Nasdaq. Institutional Portfolio - Vanguard Group Inc., Retrieved 10/23/2023
  7. ^ Yahoo Finance. U.S. Bancorp (USB), Retrieved 11/30/2023
  8. ^ State Street Corp. Meet Our Company, Retrieved 10/23/2023
  9. ^ JPMorgan Chase & Co.Who We Are, Retrieved 10/23/2023
  10. ^ U.S. Bank. U.S. Bancorp Completes Acquisition of Union Bank, Retrieved 10/23/2023
  11. ^ Mitsubishi UFJ Financial Group, Inc. Americas. MUFG Completes Sale of MUFG Union Bank, N.A. to U.S. Bancorp, Retrieved 10/23/2023
  12. ^ T. Rowe Price. Our Strategic Investing Approach, Retrieved 10/23/2023
  13. ^ Nasdaq. Institutional Portfolio - Price T. Rowe Associates, Retrieved 11/30/2023
  14. ^ Fidelity. Our Company, Retrieved 10/23/2023
  15. ^ Wells Fargo. Wells Fargo Reports Third Quarter 2023, Retrieved 11/29/2023
  16. ^ U.S. Bank. 2023 Third Quarter Profile, Retrieved 11/29/2023
  17. ^ U.S. Bank. U.S. Bancorp Receives Full Regulatory Approval for Acquisition of MUFG Union Bank; Deal Expected to Close December 1, Retrieved 10/23/2023
  18. ^ Mitsubishi UFJ Financial Group, Inc. Americas. MUFG Completes Sale of MUFG Union Bank, N.A. to U.S. Bancorp
    , Retrieved 10/23/2023
  19. ^ Federal Deposit Insurance Corporation. Failed Bank Information for Downey Savings and Loan Association, F.A., Newport Beach, CA, Retrieved 10/23/2023
  20. ^ U.S. Bank. FDIC Coverage, Retrieved 01/07/2024
  21. ^ U.S. Bank.The Strength and Stability of U.S. Bank, Retrieved 10/23/2023
  22. ^ U.S. Bank. Cybersecurity: Protecting Client Data Through Industry Best Practices, Retrieved 10/23/2023
Chase
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 10/16/2024
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 9/30/2024
  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 9/30/2024.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.
Discover Bank
Member FDIC

Discover® Online Savings - $200 Cash Bonus

Expires 9/12/2024

To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY624 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.

What to know: Offer not valid for existing or prior Discover savings customers, including co-branded, or affinity accounts. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of the account qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/12/2024, 11:59 PM ET. Offer may be modified or withdrawn without notice. See advertiser website for full details.

CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.00% APY

  • 5.00% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC
Bluevine

Free Business Checking - Up to 2.0% APY

  • 2.0% APY on your balance up to $250,000 for customers that meet monthly eligibility requirements
  • $0 minimum opening deposit
  • $0 monthly service fee
Banking services provided by Coastal Community Bank, Member FDIC

Write to Penelope Besana at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

Compare:

How do you assess the safety of a bank with multiple institutional and individual shareholders?
58% By the bank’s credit rating
11% By the performance of its stock
11% By the diversity and reputation of its shareholders
21% I look at all of these factors.
Source: CreditDonkey. Totals may not add to 100% due to rounding.
Save money and build wealth. Sign up to get our FREE email newsletter.

About CreditDonkey
CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.

About Us | Reviews | Deals | Tips | Privacy | Do Not Sell My Info | Terms | Contact Us
(888) 483-4925 | 680 East Colorado Blvd, 2nd Floor | Pasadena, CA 91101
© 2024 CreditDonkey Inc. All Rights Reserved.