BloggingStocks (Free subscription) | 02/12/2008
Filed under: Newsletters , Stocks to Buy Jack Adamo has been a bull on U.S. Bancorp (NYSE: USB ) and is now recommending doubling the position that he holds in his model portfolio. Here's the latest from his Insiders Plus newsletter. "US Bancorp is accepting $6.6 billion in new capital from the TARP program. Tier One capital will rise from 8.5% to 11.4% as a result of the new...
The Street (Free subscription) | 24/11/2008
US Bancorp share jumped after acquiring the deposits of failed Downey Savings and Loan Association and PFF Bank & Trust, two thrifts that were shut down Friday by the Federal Deposit Insurance Corp.
Banking Business Review (Free subscription) | 24/11/2008
US Bancorp has announced that its lead bank, US Bank National Association, has acquired the banking operations of two separate California financial institutions from the Federal Deposit Insurance Corporation. The two acquired institutions are Downey Savings & Loan Association, the primary subsidiary of Downey Financial, and PFF Bank & Trust, a subsidiary of PFF Bancorp.
The Minneapolis/St. Paul Business Journal (Free subscription) | 20/11/2008
Residential solar power company SunRun has landed a deal with U.S. Bancorp that will let it continue a rollout of residential-scale solar panels.
Business Week (Free subscription) | 24/11/2008
The federal government agrees to guarantee $306 billion of Citigroup's distressed assets and inject $20 billion in fresh capital. Citi will absorb the first $29 billion in losses in this portfolio. In return, the government will receive $7 billion of preferred stock, and warrants with a strike price of $10.61. Citi also agrees not to pay a common dividend exceeding $0.01 for the next three years. Although...
Star Tribune (Free subscription) | 22/11/2008
Victims of bad loans from the housing bubble, Downey S&L and Pomona Bank & Trust brought the number of U.S. bank failures to 22.
Reuters (Free subscription) | 22/11/2008
WASHINGTON (Reuters) - US Bancorp agreed to acquire the deposits of Downey Savings and Loan Association and PFF Bank & Trust, the latest in a growing list of banks to fail this year, U.S. banking regulators said on Friday.
Reuters (Free subscription) | 19/11/2008
NEW YORK (Reuters) - Citigroup Inc , once the largest U.S. bank by market value, has fallen to fifth, dropping behind U.S. Bancorp -- which is one-eighth as large by assets.
Credit Writedowns (Free subscription) | 22/11/2008
... sizable bankruptcies. Downey left behind assets of $12.8 billion and deposits of $9.7 billion for US Bancorp. PFF had $3.7 billion in assets and $2.4 billion in deposits as of September 30, according to the FDIC press release. This particular bankruptcy press release has an interesting loss-sharing agreement where U.S. Bank will assume the first $1.6 billion of losses on the asset pools...
Market Wire (Free subscription) | 17/11/2008
RADNOR, PA (MARKET WIRE) Brandywine Realty Trust (NYSE: BDN), a real estate investment trust focused on the ownership, management and development of Class A, suburban and urban office properties in the mid-Atlantic region and other selected markets throughout the United States, announced today that it has closed a transaction with US Bancorp (NYSE: USB) related to the historic rehabilitation...
The Philadelphia Business Journal (Free subscription) | 18/11/2008
... the Radnor, Pa., real estate investment trust said. Once the project is completed in 2010, U.S. Bancorp will receive substantially all of the rehabilitation credits.
Reuters UK (Free subscription) | 12/11/2008
Nov 12 (Reuters) - U.S. Bancorp , which has had a
Payment News (Free subscription) | 04/11/2008
Visa and U.S. Bancorp have announced a pilot program designed to test consumer preferences for an alternative electronic payment device, the Visa Micro Tag, the smallest Visa payWave-enabled device currently available. The U.S. Bank Visa Micro Tag easily attaches to a key ring and allows Micro Tag holders to simply wave and pay.
Market Watch (Free subscription) | 03/11/2008
SAN FRANCISCO (MarketWatch) -- U.S. Bancorp said Monday that it will particpate in the Treasury's Capital Purchase Program and sell the Treasury $6.6 billion in preferred stock and related warrants. Under the agreement, U.S. Bancorp will issue preferred stock to the Treasury at a rate of 5% a year for five years. If the shares are not redeemed by the company after five years, the rate...
Business Wire (Free subscription) | 05/11/2008
MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bancorp (NYSE: USB) announced today that Andrew Cecere, vice chairman and chief financial officer, is scheduled to present at the BancAnalysts Association
