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U.S. Bancorp Promotes Bill Parker to Vice Chair and Chief Risk Officer

MINNEAPOLIS--(BUSINESS WIRE)--Dec. 12, 2013-- U.S. Bancorp (NYSE: USB) has promoted P.W. “Bill” Parker to the position of vice chairman and chief risk officer, overseeing all risk and compliance functions at U.S. Bank. Parker was previously chief credit officer for U.S. Bancorp, an area he will continue to oversee in his new role.

“U.S. Bank enjoys a well-deserved reputation as a leader among banks for our operating, credit and risk profile,” said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp. “Bill’s insights and leadership have proven to be invaluable to our company, customers and shareholders, and I am pleased that he is now leading another important area of our company.”

Parker has been with U.S. Bancorp since 1984. He began his career as a commercial lending officer and has held subsequent positions as senior credit officer in retail and wholesale banking, and as the executive vice president for credit policy. He received his bachelor's degree from Amherst College, Amherst, Mass. and his master's degree from The Amos Tuck School of Business Administration at Dartmouth College. Parker serves as a board member on the Ordway Center for the Performing Arts and Como Friends, both in St. Paul, Minn. He and his wife, Anne, have three children and reside in St. Paul, Minn.

Richard J. Hidy, who previously held the role of chief risk officer, will retire from U.S. Bank in March.

“Rich has made enormous contributions to U.S. Bank since 1992, when he joined the former Star Banc in Cincinnati,” Davis said. “Through his leadership and tireless efforts, Rich has helped build our outstanding reputation for sound risk management. I wish Rich all the best as he begins this new chapter in his life.”

U.S. Bancorp (NYSE: USB), with $361 billion in assets as of Sept. 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,088 banking offices in 25 states and 4,937 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

U.S. Bank (Media)
Tom Joyce, 612-303-3167
or
Teri Charest, 612-303-0732
or
U.S. Bank (Investor)
Judith T. Murphy, 612-303-0783

"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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