Fifth on the list, U.S. Bank, which is part of U.S. Bancorp, has more than $477 billion in consolidated assets. With headquarters in Minneapolis, the bank largely operates in the the Midwest and West. It has 2,914 domestic branches. The current bank is the result of many mergers and acquisitions of major regional banks, including Old National Bank, Heritage Bank, People’s National Bank, Northwestern Commercial Bank, Heart Federal Savings and Loan and West One Bancorp. In 1997, First Bank System acquired and renamed what is now U.S. Bancorp, only to be taken over by Firstar Corporation in 2000. The newly consolidated bank kept the U.S. Bancorp name (since 1933, the law has prohibited banks from using “United States” in their names). It has since acquired many more banks such as Pacific Century Bank, Bay View Bank, Vail Banks, Downey Savings and Loan and Charter One Bank.
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