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U.S. Bank Invests in Cincinnati with "Powerbank" Strategy; Hires More Branch Employees and Extends Hours
CINCINNATI, Oct 01, 2008 (BUSINESS WIRE) -- U.S. Bank announced plans today to invest more than $3 million in the Cincinnati market as it rolls out its "Powerbank" strategy. Aimed at improving the customer experience, U.S. Bank's strategy focuses on a number of enhancements, including refurbished branches and ATMs, more branch staff, extended branch hours, self-serve coin counters, and more competitive interest rates. The initiative, which officially kicks off October 1, will be implemented at 118 U.S. Bank branches in Cincinnati, Northern Kentucky and 23 branches in Dayton.

"This is all about our customers," said John Fickle, U.S. Bank senior vice president and regional retail manager. "Our goal is to be the bank of choice for customers in the Cincinnati area by offering the most locations, the most convenient hours, the most knowledgeable staff, and ultimately, the best service."

James Schwab, U.S. Bank Cincinnati market president, commented, "Powerbank has had great results when it was launched in U.S. Bank stronghold markets throughout the country including St. Louis, Denver, Portland and Minneapolis, and it will be a great way to revitalize our franchise here."

Fickle said that U.S. Bank is in the process of hiring an additional 225 retail employees so that it has staff on board at peak times to serve clients. Also, customers will be able to immediately recognize U.S. Bank retail employees as they will be wearing U.S. Bank career apparel.

Hours at 76 U.S. Bank free-standing traditional locations will open an hour earlier and will stay open an hour later for added customer convenience. In addition, many U.S. Bank ATMs will be upgraded to modern touch-screens, and several drive-through locations will be improved for quicker access.

Twelve additional U.S. Bank's small business specialists, exclusively dedicated to serving the unique needs of small businesses, will be based in neighborhood offices throughout the area including Hyde Park, Florence, Centerville, Springdale, Clifton, Beckett Ridge/Route 4, Anderson/ Mt. Washington, 5th and Walnut, Blue Ash, Blue Ash North, Xenia and Springboro.

Free coin counters have been installed at eight different U.S. Bank locations: Hyde Park, Norwood, Fifth and Walnut, Western Woods Florence, Union Center, Polrain and Centerville. Not to miss out on building future savers, in the coming months U.S. Bank will also launch a "Just US Kids" savings program, with special incentives for children to open a savings account and learn about the benefits of saving.

Schwab said U.S. Bank's "Flight to Quality" advertising campaign, currently featured in national financial publications and major media markets, emphasizes U.S. Bank's strong franchise and financial strength. Local television, radio, and print advertising will then kick off at the beginning of the New Year highlighting U.S. Bank's Powerbank service initiatives.

"There is an opportunity for us to really distinguish ourselves as being one of the soundest, most capable and best service-oriented banks in the country and the time is right to talk about it with both our clients and prospects," said Schwab. "We have been committed to the Cincinnati community for more than 143 years. Last year we contributed nearly $1.5 million locally to many worthwhile endeavors, and have been a long-standing sponsor to many organizations like the United Way, Fine Arts Fund and the National Underground Railroad Freedom Center. Just as important, many of our employees volunteer beyond the eight hours of paid time that they are given to make a difference for many in our community."

U.S. Bank employs 2,322 people in the Cincinnati area.

U.S. Bancorp (NYSE:USB), with $247 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,542 banking offices and 4,895 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

SOURCE: U.S. Bank

U.S. Bank
Steve Dale, 612-303-0784
or
Lisa H. Clark, 608-877-7517

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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