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U.S. Bank Names Commercial Banking Leader in Orange County

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Sept. 2, 2005--Steve Takei has joined U.S. Bank as head of commercial banking in Orange County. He will report to Todd Hollander, market president for U.S. Bank in Orange County and the Inland Empire.

Takei, 49, brings more than 25 years of financial services experience to the position, most recently as a senior vice president in Bank of America's healthcare group. Takei also ran the statewide franchise for middle market banking for Sanwa Bank California and has held positions in corporate and commercial banking for Wachovia, First Interstate Bank and First Chicago.

"Steve brings great energy and experience to a position that is critical to our success in southern California," said Hollander. "He has earned respect from the community and within the banking industry, and we are proud to have him lead our commercial banking team in Orange County."

Takei earned his undergraduate degree and MBA from the University of California Berkeley and a JD from Hastings College of Law, and is a member of the California Bar. He lives with his wife Lily, and their two children in Laguna Niguel, Calif.

Takei is based at U.S. Bank's offices at 4100 Newport Place, Suite 900 in Newport Beach, Calif.

U.S. Bancorp (NYSE:USB), with $204 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,383 banking offices and 4,877 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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