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Robert B. Horsman Named Regional Chairman for U.S. Bank in San Diego

Jim Wening Named Market President for U.S. Bank in San Diego

SAN DIEGO--(BUSINESS WIRE)--Nov. 16, 2009-- U.S. Bank, which acquired San Diego National Bank on Oct. 30, has named its former president and chief executive officer, Robert B. Horsman, to the position of regional chairman for U.S. Bank in San Diego.

Additionally, Jim Wening has been named as the new market president for U.S. Bank in San Diego and he will continue to lead the organization’s commercial banking division in the market. Wening has been a member of U.S. Bank’s senior management team in San Diego since 2005. John Zygowicz, who has been with U.S. Bank since 1999 and been an important member of the leadership team, will continue to lead the company’s enhanced private client and wealth management business in San Diego.

“Robert, Jim and John, together with our other line of business managers form one of the strongest, most talented leadership teams in San Diego,” said Sean Foley, regional chairman for U.S. Bank in southern California. “This move reaffirms our commitment to San Diego and our intent to maintain community support at levels reflective of both banks’ previous commitments, and to continue to leave community support decisions in the hands of our San Diego market leaders.

Horsman was one of the principle founders of San Diego National Bank in 1981, and remained as its president when they sold to First Bank of Oak Park (FBOP) in 1997. He was named chief executive officer in 2000.

Horsman is actively involved in the San Diego community serving as: chairman Kyoto Prize Symposium 2009–2010; vice chair San Diego Zoology Foundation 2008 – 2010; president 2008-2009 San Diego Opera; chair of the 2002 and 2003 San Diego Opera Galas; director of Texas Tech Foundation Board 2009–2011; director and chair Scripps Mercy Hospital Foundation 2007–2009 and co-chair of $50 Million Campaign through 2010; chairman of the San Diego Regional Chamber of Commerce 2007; co-chair RITZ Rendezvous in the Zoo 2007; director of Foundation Board of UCSD (chairman of Finance Committee and member of Investment Committee); director and member of the Investment Committee - Metro YMCA; former director – Lincoln Club; committee member 2005 and 2006 United Way/CHAD Capital Campaign; co-chaired Star/PALs 2003 $1.3 million building campaign; and co-chair Junior Achievement Enterprise Village Campaign and member of the Investment Committee.

The members of U.S. Bancorp’s executive team have personal histories in San Diego that are very deep. Richard Davis, chairman, president and chief executive officer of U.S. Bancorp, managed the market for both Security Pacific and Bank of America in the late 1980s. Davis is a member of the board of University of San Diego. Joseph Otting, vice chairman responsible for commercial banking, is a California resident and previously lived in San Diego when he managed the commercial banking group for Union Bank. Richard Hartnack, vice chairman responsible for consumer banking, is a graduate of Hoover High School and maintained a residence in San Diego from 1972 until 2002. Hartnack had responsibility for retail and small business banking in San Diego and across the state for Union Bank.

Following the entire acquisition of First Bank of Oak Park (FBOP) banks, U.S. Bank has 677 offices in California.

About U.S. Bancorp

U.S. Bancorp (NYSE:USB), with $265 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,851 banking offices and 5,175 ATMs in 24 states, 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 usbank.com.

Source: U.S. Bank

U.S. Bank
Teri Charest, 612-303-0732
teri.charest@usbank.com
or
Steve Dale, 612-303-0784
steve.dale@usbank.com

"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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