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U.S. Bank Creates Market President Position in Reno and Names Jack Prescott to the Post

RENO, Nev., Mar 16, 2005 (BUSINESS WIRE) -- U.S. Bank has created a market president position in Reno, Nev. and has named long-time U.S. Bank commercial banker Jack Prescott to the role.

Prescott, 44, has been in banking for 20 years, the last 10 of which have been with U.S. Bank in commercial banking. He will continue to lead commercial banking efforts for Reno in his new role, while also identifying new opportunities for greater collaboration among lines of business and partnership within the community. He will lead the U.S. Bank regional board in Reno and serve as chairperson of the bank's regional management team and grants committee.

"Our strength and success in Nevada is directly linked to our success in Reno, which is why we felt strongly about creating this market president position and naming someone as trusted and respected as Jack Prescott to assume the role," said Ken Ladd, executive vice president of commercial banking at U.S. Bank. "Jack's leadership over the past 10 years and demonstrated commitment to the Reno community, his team and our Reno customers make him a natural fit to serve as market president and I couldn't be more pleased to name him to this position."

Prescott's commitment to the Reno community is most immediately evident in the organizations for which he serves on the board, including EDAWN and the Reno/Sparks Chamber of Commerce. In addition, Prescott is an active member of the Prospectors Club and the YTBD Club.

"This is a well-deserved promotion given Jack's dedication to this market and proven leadership. Jack has been a key contributor to U.S. Bank's success in northern Nevada and his dedication to our community is evident in his active participation in various cultural, charitable and service organizations," said Chuck Jeannes, senior vice president of Glamis Gold and member of the U.S. Bank regional board in Reno.

Prescott, originally from Las Vegas, earned his bachelor's degree in agriculture economics from the University of Nevada at Reno and has been a member of the Reno community ever since. He and his wife, Jane, have three daughters, Jaclyn, Chanelle and Kelli.

U.S. Bancorp (NYSE:USB), with assets of $195 billion, is the 6th largest financial holding company in the United States. The company operates 2,370 banking offices and 4,620 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

"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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