USB - Mergers and acquisitions

Acquisition further expands bank's focus on healthcare industry U.S. Bank, lead bank of U.S. Bancorp (NYSE:USB), has acquired Salucro Healthcare Solutions LLC. The Tempe, Arizona-based company provides healthcare financial technology, focused on patient payments and billing. Founded in 2004, Salucro is a market leader in providing online billing and payments offerings for healthcare providers across the United States. Salucro had previously been a partner of Elavon, the merchant acquiring unit within U.S. Bank. U.S. Bank initially invested in Salucro in 2022, and Salucro's platform is sold through Elavon as MedEpay. "U.S. Bank is a leader in providing banking and payments services to

U.S. Bancorp (NYSE:USB) announced plans to issue 24 million shares of U.S. Bancorp common stock to an affiliate of Mitsubishi UFJ Financial Group, Inc. (MUFG) for an aggregate purchase price of $936 million. The proceeds will be used by U.S. Bancorp to satisfy a portion of its previously announced repayment obligation to MUFG (as described below). The debt/equity conversion is expected to close on August 3, 2023, and will be accretive to U.S. Bancorp's capital levels, increasing its CET1 ratio by approximately 20 basis points. As previously announced, on December 1, 2022, U.S. Bancorp completed the acquisition of MUFG Union Bank N.A.'s core regional banking franchise. U.S. Bancorp receive

U.S. Bancorp (NYSE:USB) today announced that it has completed the acquisition of MUFG Union Bank's core regional banking franchise from Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG). The transaction brings together two premier organizations to serve customers and communities across California, Washington, and Oregon and support a dedicated workforce across the West Coast. Customers will benefit from an expanded branch network, greater access to digital banking tools, and increased choice. "The acquisition of MUFG Union Bank underscores U.S. Bank's commitment to creating economic opportunities for our customers and communities across the West Coast," said Andy Cecere, chairman, president

U.S. Bank announced today that it has entered into a definitive agreement to purchase PFM Asset Management LLC under its subsidiary, U.S. Bancorp Asset Management. PFM Asset Management will continue to operate as a separate entity. PFM Asset Management and U.S. Bancorp Asset Management had combined assets under management and assets under administration of more than $325 billion on March 31, 2021. "PFM Asset Management brings a wide array of client relationships and product offerings, including local government investment pools, outsourced chief investment officer services and separately managed accounts in both fixed income and multi-asset class strategies," said Eric Thole, head of U.S.