MINNEAPOLIS--(BUSINESS WIRE)--Oct. 9, 2002--U.S. Bancorp has
completed the systems integration process involving customer
relationships and services of the old U.S. Bancorp and Firstar
Corporation. With the completion of the systems integration process,
U.S. Bancorp now has branches operating in 24 states on a single
platform or common system providing customers with the flexibility and
convenience of doing business at any of the 2,131 U.S. Bank branches
located in 24 states.
The completion of bringing together the systems of these two banks
in a seamless manner is a testament to the dedication of the new U.S.
Bancorp's conversion team and the thousands of employees who worked
countless hours to make this a successful integration. The systems
conversion process of combining the old U.S. Bancorp and Firstar
started in February 2001.
Jerry Grundhofer, president and chief executive officer of U.S.
When we first announced this transaction in
October of 2000, we said our goal was to take the best products and
systems of the two banks and combine them into a single franchise that
we now view as the best bank in America. It was our objective to
combine these two banks without any impact on our customers or
disruption of service. It is important to note that while all the
conversion activity was taking place behind the scenes, we were
simultaneously enhancing and improving our levels of customer service
across our new combined 24-state footprint. The true credit for this
success goes to our nearly 53,000 U.S. Bancorp team members who were
either directly involved in the integration process or those who
exemplified our commitment to our customers by providing outstanding
service on a daily basis.
The task of merging the two organizations into the new U.S.
Bancorp involved systems, networks and account conversions in all
lines of business including consumer banking; wholesale banking;
payment services; private client, trust and asset management; and
capital market divisions.
By operating on one common system this means a customer can now
feel at home at any U.S. Bank branch or distribution channel, such as
ATMs or www.usbank.com. This means that if a customer moves or
relocates, travels for business, is a student going off to college or
even someone on a vacation that any U.S. Bank location, in 24 states,
can help them with their banking needs. For business customers who may
have multiple locations in the 24 states in which U.S. Bank has
offices, they too have the added convenience of making deposits or
other transactions at any of U.S. Bank's 2,131 offices.
The integration included nearly 11 million customer accounts,
2,131 branch locations in 24 states and 4,818 ATMs. Another important
and visible aspect of the conversion was the name change of former
Firstar locations. As a result, Firstar branches in Ohio, Wisconsin,
Kentucky, Indiana, Tennessee, Arizona, Arkansas, Kansas, Missouri,
Iowa, Illinois and Minnesota were rebranded with the U.S. Bank logo
and red, white and blue colors during the past year. In addition to
the systems integration, U.S. Bank customers also have the benefits of
the bank's Five Star Service Guarantee available at all locations and
in all lines-of-business.
Minneapolis-based U.S. Bancorp (NYSE:USB), with assets in excess
of $173 billion, is the 8th largest financial services holding company
in the United States. The company operates 2,131 banking offices and
4,818 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 U.S. Bank. Visit
U.S. Bancorp on the web at usbank.com.
CONTACT: U.S. Bancorp
Steve Dale (Media), 612/973-0898
H.D. McCullough (Analysts), 612/973-2261
Judith Murphy (Analysts), 612/973-2264
INDUSTRY KEYWORD: BANKING
SOURCE: U.S. Bancorp
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