DALLAS--(BUSINESS WIRE)--May 16, 2005--U.S. Bank Corporate Trust
Services opened a new office in Dallas today. Located at 14241 Dallas
Parkway, the office is managed by Kevin McIlwaine, vice president of
U.S. Bank Corporate Trust Services.
"U.S. Bank Corporate Trust Services is opening this new office as
part of the company's efforts to expand into additional markets
nationwide," said Diane Thormodsgard, president of U.S. Bank Corporate
Trust Services. "U.S. Bank is a major player in the corporate trust
business and is known for providing great service and having the
capabilities for serving clients, which we will extend to our
customers in Texas. Kevin has a successful history of trustee and
agency work on a variety of issuances including corporate and
refunding escrows, industrial revenue bonds, multi-family and single
family housing bonds, and more. He understands the corporate trust and
escrow needs of customers, as well as their expectations."
"Adding Texas to our footprint makes sense when you consider the
fact that the amount of debt issued in the state is enormous, and the
business climate continues to improve," said McIlwaine. "Our presence
in Texas will increase U.S. Bank's visibility and market share as the
number one provider of corporate trust services in one of the largest
markets in the country."
In addition to McIlwaine, six employees of the U.S. Bank
commercial real estate team also work at the Dallas Parkway location.
Although U.S. Bank does not operate branches in Texas, it does have a
significant employee base with approximately 100 people working for
U.S. Bank Voyager Fleet Systems, Inc., in Houston, and 200 employees
in Irving who joined the U.S. Bank team when the company purchased
Genpass, Inc., and its subsidiaries last week.
U.S. Bank Corporate Trust Services is one of the nation's largest
providers of trustee services with more than $1.8 trillion in assets
under administration in municipal, corporate, asset-backed and
international bonds. In addition, it provides paying agent, escrow
agent and document collateral services through its network of 31
U.S. Bancorp (NYSE:USB), with assets of $198 billion, is the 6th
largest financial holding company in the United States. The company
operates 2,377 banking offices and 4,654 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. Bank
SOURCE: U.S. Bank