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U.S. Bank's Food and Agribusiness Appoints Four Regional Managers

DENVER--(BUSINESS WIRE)--Feb. 15, 2007--U.S. Bank's Food and Agribusiness division is ramped up and ready to better meet the customer service needs of its clients with an updated national strategy that includes the hiring of four regional managers to oversee its new four geographic regions. Each market is managed regionally to more appropriately address the unique characteristics of each area.

"The re-organization of our division reinforces our commitment to be the premier domestic-based food and agribusiness bank in the United States," said Elizabeth Hund, senior vice president and division manager of U.S. Bank's Food and Agribusiness division. "Our regional managers - Jamey Grafing, Clay Jackson, John Ball and Eric Buckman - have more than 100 years of combined experience in banking and agriculture and will help their teams deliver a full stable of financial products to the food and agribusiness industry, including production agriculture, processors, distributors, marketers and cooperatives."

Hund has more than 25 years of agribusiness lending experience. She started working at U.S. Bank in September 2006. Previously, she worked as managing director and produce sector head for Rabobank International in San Francisco, where she was responsible for all marketing, credit, compliance, administration and budgeting in the western region. Hund received a Master's of Business Administration with an emphasis in finance from the University of Colorado in Boulder, and a Bachelor of Science degree in agriculture, with an emphasis in animal science and industry, from Kansas State University in Manhattan.

Grafing manages U.S. Bank's central region, which covers Alabama, Arkansas, Illinois, Indiana, Iowa, Kentucky, Louisiana, Michigan, Minnesota, Mississippi, Missouri, North Dakota, Ohio, South Dakota, Tennessee and Wisconsin. He comes to U.S. Bank from Farm Credit System's Commercial Finance Group, where he was a senior vice president. Grafing earned his Bachelor of Science degree in agricultural business from Iowa State University in Ames, and his Master of Business Administration in finance from the University of Iowa in Iowa City. Grafing works at the U.S. Bank company headquarters, located at 800 Nicollet Mall in downtown Minneapolis.

Jackson manages the western region, which covers Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon, Utah and Washington. He was previously employed by Fortis Capital as managing director and head of its North American Group for Food, Beverage and Consumer Products. He also worked for Rabobank and ABN AMRO. Jackson earned his Bachelor of Science and Master of Business Administration degrees from the University of Southern California. His office is located at 1331 N. California Blvd. in Walnut Creek, California.

Ball manages the eastern region, which covers Connecticut, Delaware, Florida, Georgia, Maine, Massachusetts, Maryland, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia and West Virginia. He has been with U.S. Bank's Food and Agribusiness division since 1999, as a vice president. Previously, he worked as a relationship manager for Bank of America and Rabobank. Ball received his Bachelor of Science degree from Cornell University in Ithaca, New York, and a Master of Science degree from New Mexico State University in Las Cruces. Ball works at the U.S. Bank office located at 950 17th St. in downtown Denver.

Buckman manages the high plains region covering Wyoming, Montana, Colorado, New Mexico, Kansas, Oklahoma, Nebraska and Texas. He has been a member of the U.S. Bank Food and Agribusiness team since 1993. Buckman earned his Bachelor of Science degree from Southwestern College in Winfield, Kansas, and a Master of Science degree from Kansas State University. He works at the U.S. Bank office located at 800 S.W. Jackson St. in Topeka, Kansas.

U.S. Bancorp (NYSE:USB), with $219 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,472 banking offices and 4,841 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.

Note to editors: digital photos of regional managers are available.

    CONTACT: U.S. Bank
             Amy Frantti, Media Relations, 612-303-0733

    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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