U.S. Bancorp (NYSE: USB) announced it will lower its prime lending
rate to 4.50 percent from 5.00 percent, effective after the close of
business today, October 8, 2008, at all U.S. Bank locations.
U.S. Bancorp last announced a change in its prime lending rate on
April 30, 2008, when it was decreased 25 basis points to 5.00 percent
from 5.25 percent.
U.S. Bancorp, with $247 billion in assets, is the parent company
of U.S. Bank, the 6th largest commercial bank in the United States, as
of June 30, 2008. 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. Bancorp