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Bay View Branches Take U.S. Bank Name Feb. 15-16

SAN FRANCISCO, Feb 14, 2003 (BUSINESS WIRE) -- U.S. Bancorp (NYSE:USB)

San Francisco Bay Area residents will see more than 50 new U.S. Bank branches in the region as the signs on Bay View Bank offices change to U.S. Bank the weekend of Feb. 15-16.

The change is symbolic of the energy and enthusiasm that U.S. Bank brings to the businesses, consumers and communities that Bay View served through the years, and its commitment to continuing that legacy.

U.S. Bank now has 215 full-service branches and 278 ATMs in California. The expansion gives U.S. Bank retail presence in San Francisco and increases its presence in the Greater Bay Area to 75 branches, representing an increase in market share from one to three percent.

The new U.S. Bank branch offices are located in: Aptos, Belmont, Benicia, Burlingame, Campbell, Concord, Cupertino, Daly City, Danville, Fairfield, Foster City, Fremont, Half Moon Bay, Lafayette, Los Altos, Los Gatos, Martinez, Menlo Park, Mill Valley, Millbrae, Novato, Pacifica, Palo Alto, Pleasant Hill, Pleasanton, Rohnert Park, San Anselmo, San Carlos, San Francisco, San Jose, San Leandro, San Mateo, San Rafael, Santa Cruz, Santa Rosa, Sonoma, South San Francisco, Sunnyvale, Vacaville, Vallejo and Walnut Creek.

The transaction, which closed in November 2002, included approximately $3 billion in retail and small business deposits and $376 million in selected loans, including single-family residential mortgages, home equity loans and small business loans. Customers will benefit from a broad range of products and services, such as business and consumer credit cards, merchant services, a robust small business offering, investments, insurance and comprehensive loan opportunities for everything from mortgage and home equity to financing for recreation vehicles, cars and boats.

"We're a big bank that thinks like a community bank," said Ole Larsen, senior vice president for retail banking at U.S. Bank in northern California. "Our retail branch network is designed to reflect the personality and distinct needs of the community, while also bringing the breadth and depth of benefits that a big bank can offer, such as Checking that Pays and our exclusive Five Star Service Guarantee."

U.S. Bank is part of U.S. Bancorp (NYSE:USB). With assets in excess of $180 billion, U.S. Bancorp is the 8th largest financial services holding company in the United States. The company operates 2,142 banking offices and 4,604 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. Visit U.S. Bancorp on the web at www.usbank.com.

CONTACT:          U.S. Bank
                  Teri Charest, Media Relations, 612/303-0732

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"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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