US Bank 2003 Annual Report Download - page 13

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Expanding in-store banking office distribution.In2003,
webeganamajor expansion ofour in-storenetwork—the third largest
in the country—bypartneringwithsupermarket retailers SafewayInc.,
Publixand Smith’sFood &DrugStores.Beginningwithsixnew
Nashville Publixbranches in 2003, bythe end of2004, U.S. Bank
will haveopened15newSmith’s in-storebranches in Utah,and by
the end of2005wewill haveopenedatotal of163newfull-service
in-storelocations in Safewayand Vons stores throughout California,
Arizonaand Nevada.
Strategicinvestments solidify our position in high-growth
markets and businesses.In2003, U.S. Bankcompleted systemconversions
resultingfromthe 2002purchaseand deposit assumption of57BayViewBank
branches in California.This transaction strengthened the U.S. Bankgeographic
footprint in California,addingto existing U.S. Bankbranches to createan integrated
networkofferingcompletecoverageofthe fast-growingGreaterBayarea—
SanFrancisco,SanJose,AlamedaCounty,ContraCostaCounty,SantaRosa,
Vallejo-Fairfield-Sonomaand SantaCruz.
In2003, U.S. Bankalso completed systemconversions resultingfromthe purchase
ofStateStreetCorporateTrust in 2002. This transaction stronglycomplemented
our existingcorporatetrust business,making U.S. Bankthe leadingcorporatetrust
provider in NewEngland in addition to our current lead status in the Northwest,
West and Central regions ofthe country.
LasVegas
SanDiego
Los
Angeles
San
Francisco
Sacramento
Reno
Nashville
Salt Lake
City
Phoenix
diversification
Internet business banking
convenient options, too.
U.S. Bank
Thebusiness services offered by
allowusthe
provides uswithadditional
Sandy Schwartz
GeneralManager
Millennium Development Corp.
Scottsdale,AZ
With over thirty-five years of experience,
Millennium Development Corp.has
investedin anddevelopedawide
variety of realestate projects ranging
fromagriculturallandto office buildings
to shoppingcenters.As an equity
participant in each project, Millennium
Development Corp.is committedto
preservingcapitalandproducingan
attractive return on investment.
For more than 10 years, U.S.Bank
Small Business Bankinghas provided
the cash flowmanagement, credit
andfinancingresources that support
Millennium Development’s
business vision.
to satisfy eachproject’srequirements.
we need