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U.S. Bank Receives Outstanding Regulatory Rating for Community Reinvestment Performance


U.S. Bancorp (NYSE: USB) announced today that U.S. Bank National Association has received an "Outstanding" rating, the highest rating possible, in its most recent Community Reinvestment Act (CRA) examination by the Office of the Comptroller of the Currency (OCC).

"The U.S. Bank team is extremely pleased that the OCC has again recognized our ongoing commitment to our communities," said Richard Davis, president, chairman and chief executive officer of U.S. Bancorp, the parent company of U.S. Bank. "We are very proud of the contributions we make in our communities to help them thrive and grow. U.S. Bank is dedicated to meeting the needs of the communities that our customers and employees call home by providing affordable loans, investing in projects that revitalize neighborhoods, and volunteering our talents to help mobilize efforts. "

U.S. Bank earned an overall rating of "Outstanding" for the CRA examination covering January 1, 2006 through December 31, 2008, as well as ratings of "Outstanding" for each of the three performance tests - lending, investments and services. This is in recognition of U.S. Bank's continued strength in the lending and investment areas as well as its strong commitment to providing quality services in its low- and moderate-income communities.

CRA was enacted in 1977 to encourage banks and thrifts to help meet the credit needs of all segments of their communities including low- and moderate-income neighborhoods. CRA and its implementing regulations require federal financial institution regulators to assess the record of each bank and thrift in helping to fulfill their obligations to the community and to consider that record while evaluating applications for charters or for approval of bank mergers, acquisitions and branch openings.

The OCC reported in the public evaluation that U.S. Bank earned an "Outstanding" in the lending category by demonstrating success in lending to borrowers of all income levels throughout the bank's geographic footprint, as well as an excellent distribution of small business loans. The OCC also noted "an excellent level of Community Development Lending that had a significantly positive impact on the rating."

The OCC noted that U.S. Bank earned "Outstanding" in the investment test by demonstrating "excellent responsiveness to the identified investment needs of its communities, particularly through investment vehicles that promote affordable housing for low- and moderate-income individuals." The bank reports it is the largest single source of New Market Tax Credit investment activity in the nation and during 2008 was the third largest bank investor in the Low-Income Housing Tax Credit program.

In the service test, which measures the accessibility to banking services throughout the communities U.S. Bank serves, the OCC stated that U.S. Bank earned "outstanding" through its "significant commitment to providing financial services training to first-time homebuyers and youth." They also recognized the bank's "ongoing relationships with organizations that work on affordable housing and other necessary community development goals."

U.S. Bancorp (NYSE: USB), with $283 billion in assets as of June 30, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,002 banking offices in 24 states and 5,309 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, and trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.


U.S. Bank
Steve Dale, Media Relations, 612-303-0784
Amy Frantti, Media Relations, 612-303-0733
"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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