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U.S. Bank Equipment Finance Names Cracchiolo President and CEO

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bank (NYSE:USB) today announced that Anthony Cracchiolo has been named president and CEO of U.S. Bank Equipment Finance, one of the largest bank-affiliated equipment finance companies in the United States.

As president and CEO of the division, Cracchiolo will lead and oversee all operations of U.S. Bank Equipment Finance, which is composed of nine business units delivering products and services through both direct and vendor channels. The direct businesses now under his leadership include: capital equipment, small business, technology finance, government leasing and finance. The vendor channel businesses now reporting to Cracchiolo include office equipment vendor services; healthcare vendor services; manufacturing vendor services; and technology vendor services as well as the division’s syndications group.

Cracchiolo will report to Sal Maglietta, executive vice president, U.S. Bank Specialized Finance.

"We are well positioned and look forward to accelerating growth and realizing the full potential of the market opportunities under Tony’s leadership,” Maglietta said.

Cracchiolo joined U.S. Bank Equipment Finance in 2007 and has been leading the organization’s businesses in the vendor channel since 2011. Cracchiolo is a leader within the industry with over 35 years dedicated to the equipment finance sector. He has served on the board of directors of the Equipment Leasing and Finance Association since 2010 and the development committee of New York City’s YMCA since 2012.

About U.S. Bank Equipment Finance

U.S. Bank Equipment Finance, one of the largest equipment finance providers in the nation has been providing quality equipment finance solutions for more than 40 years.

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $371 billion in assets as of March 31, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,083 banking offices in 25 states and 4,878 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.

Source: U.S. Bank

U.S. Bank Public Relations
Nicole Garrison-Sprenger, 612-303-0731
nicole.sprenger@usbank.com
or
U.S. Bank Specialized Finance
Elizabeth Parra, 415-464-8521
elizabeth.parra@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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