BELLEVUE, Wash.--(BUSINESS WIRE)--June 24, 2002--U.S. Bancorp
Silver Cloud Inns has chosen U.S. Bank to provide financial
services as the regional hotel chain continues to grow and prosper.
U.S. Bank is the lead bank providing financing to Silver Cloud for its
new hotel at the corner of Broadway Street and Madison Street in
Loans from U.S. Bank totaling $10 million will help the company
build the Broadway Silver Cloud Inn in Seattle's Commercial Business
District. The new facility will have 179 rooms, more than twice as big
as their new Silver Cloud Inn Tacoma, which opened in February this
year. U.S. Bank will also provide additional financial services after
Silver Cloud Inns is an important contributor to Washington's
economy, which is why we're proud to do everything we can to help them
grow and continue to be successful. We're honored to be affiliated
with them in this business relationship, said Ken Kirkpatrick,
president of U.S. Bank in Seattle.
With $100 million in assets, Silver Cloud Inns is a leading
regional hotel chain in Washington and Oregon. The first Silver Cloud
Inn opened in 1980 in Tukwila, Wash. Standing behind the mottoes
cleanliness and friendliness and
hospitality shines, the company
has since grown to twelve inns with 1,450 rooms and more than 400
employees. Visit them on the web at www.scinns.com.
Minneapolis-based U.S. Bancorp (NYSE:USB), with assets in excess
of $165 billion, is the 8th largest financial services holding company
in the United States. The company operates 2,147 banking offices and
4,929 ATMs, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products
to consumers, businesses and institutions. U.S. Bancorp is home of the
Five Star Service Guarantee which assures customers of certain key
banking benefits and services or customers will be paid for their
inconvenience. U.S. Bancorp is the parent company of Firstar Bank and
U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com and Firstar
Bank at www.firstar.com.
CONTACT: U.S. Bank Media Relations
Teri Charest, 612/973-4594
KEYWORD: MINNESOTA WASHINGTON
INDUSTRY KEYWORD: BANKING BUILDING/CONSTRUCTION
SOURCE: U.S. Bank
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