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U.S. Bank Names Malia Wasson as Market President in Portland and Southwest Washington

PORTLAND, Ore.--(BUSINESS WIRE)--June 30, 2005--Malia Wasson has been named market president for U.S. Bank in Portland and southwest Washington.

Wasson, 46, is a lifelong Oregonian and 24-year veteran of banking who has been with U.S. Bank in Portland since 1989. She most recently led commercial banking in Oregon and southwest Washington, where her team of 80 bankers oversaw the total banking relationships of businesses with annual sales of $5 million to $250 million.

In her new role, Wasson will continue to direct commercial banking while also leading market wide initiatives and projects that impact all lines of business at U.S. Bank and its parent company, U.S. Bancorp. She will also lead the U.S. Bank local market board in Portland.

"Malia has demonstrated tremendous leadership and dedication to U.S. Bank and its customers throughout her career, and we have great confidence in her ability to inspire and motivate the Portland and southwest Washington team as market president," said Joseph Otting, vice chairman of commercial banking for U.S. Bancorp and former Portland market president. Wasson will report directly to Otting.

Wasson is a graduate of St. Mary's Academy in Portland and earned her bachelor's degree from Santa Clara University in Santa Clara, Calif. She has served as a member of the board of the Portland Business Alliance, Volunteers of America (former chair), Oregon Sports Authority and Oregon Independent College Foundation. She and her husband, Steven, live in Lake Oswego, Ore. They have two daughters, Kelsey and Michele, and one son, Samuel.

Wasson succeeds Mike Michael who recently accepted a position as president and chief operating officer of the Ohio Casualty Insurance Company in Fairfield, Ohio.

U.S. Bancorp (NYSE: USB), with $198 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,377 banking offices and 4,654 ATMs in 24 states, 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 in which the company pays customers if certain key banking benefits and services are not met. 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 Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com

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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