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U.S. Bank Names Patrick Corrigan Omaha Market President; Outgoing President John Nahas Steps Down to Take a Break after 30 Years in Banking

OMAHA, Neb., Mar 25, 2004 (BUSINESS WIRE) -- Patrick Corrigan has been named president of U.S. Bank in Omaha, Neb., in charge of the bank's commercial banking operations in Omaha, Neb. and Council Bluffs, Iowa. Corrigan succeeds John Nahas, who after 30 years in banking chose to step down from the position to explore other interests.

Corrigan, 47, takes the leadership position after eight years as executive vice president in charge of commercial banking for U.S. Bank in Omaha. He has been with U.S. Bank for 20 of the 25 years that he has been in banking, and will now oversee a banking team that has become one of the top performing markets for U.S. Bank nationwide.

"The market is in a great position to make this transition and with Pat's experience and leadership it will only continue to grow and succeed," said Nahas. "I'm leaving on a high note. This is a terrific market and a stellar banking team that has become one of the best in the country, and while I will miss the people I've worked with through the years, I look forward to taking a break and spending more time with my family."

"Pat has demonstrated great success throughout his career and in particular with U.S. Bank in Omaha," said Joseph Otting, commercial banking leader for U.S. Bank's eastern territory. "We are grateful to John for building such a strong and capable management team. In choosing Pat, we have not only an outstanding banker but also an outstanding community leader. I am confident that the team under his leadership will continue its outstanding performance and service to our customers."

Corrigan's experience in Omaha doesn't end with banking. He has been active in the community throughout his career, serving on the board of directors for the Omaha Chamber of Commerce, the United Way and the Nebraska Bankers Association. In addition, he serves as the president of the Nebraska Vocational Rehabilitation Equity Assistance Program and is active in the Sierra Club of Omaha.

A graduate of St. Thomas in St. Paul, Minn., Corrigan earned a bachelor's degree in business administration. He attended the National Commercial Lending School in Norman, Okla., and is an alumnus of the Omaha Executive Institute. He and his wife, Mary, have seven children and live in Omaha.

U.S. Bancorp (NYSE:USB), with assets of $189 billion, is the 8th largest financial services holding company in the United States. The company operates 2,266 banking offices and 4,425 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

SOURCE: U.S. Bank

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

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Copyright (C) 2004 Business Wire.  All rights reserved.

SOURCE: U.S. Bank

"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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