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U.S. Bank to Purchase Landmark Building in Downtown San Diego, Preserve Beloved Whale Mural

SAN DIEGO, Apr 07, 2010 (BUSINESS WIRE) --U.S. Bank has announced that it will purchase from the FDIC the building that was formerly the headquarters of San Diego National Bank at 1420 Kettner Boulevard in downtown San Diego, preserving the iconic Wyland whale mural on the side of the building and an important tie to the community. San Diego National Bank was acquired by U.S. Bank on Oct. 30, 2009, though the headquarters building was not a part of the FDIC-assisted transaction at that time.

"This is wonderful news for the community, and especially the employees and customers who have come to U.S. Bank from San Diego National Bank," said Robert Horsman, regional chairman for U.S. Bank in San Diego and former president and chief executive officer of San Diego National Bank. "This building has a special place in many hearts, and the decision to make this location a cornerstone of U.S. Bank's operations in San Diego demonstrates a true blending of cultures as we move forward and create new successes together."

U.S. Bank plans to increase utilization of the building's space as some of its lines of business grow and plan to relocate there. U.S. Bank currently occupies approximately 81,000 square feet. New U.S. Bank signage will appear on the building at the time that the San Diego National Bank conversion takes place.

The history of the Wyland whale mural dates back to 1981, the same year San Diego National Bank went into business. That year, Wyland, an internationally known environmental artist, began painting "Whaling Walls" to create awareness - not only for the whales, but also for the endangered oceans in which they live. Wyland's goal was to paint 100 Whaling Walls around the world. The mural he painted in 1994 at 1420 Kettner Boulevard was his 64th, and depicts five gray whales migrating down the coast of California on their way to Mexico. The mural is visible from the I-5 Freeway and from the planes that fly in and out of San Diego International Airport.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB), with $281 billion in assets as of Dec. 31, 2009, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,025 banking offices in 24 states and 5,148 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 usbank.com.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6240972&lang=en

SOURCE: U.S. Bank

U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@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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