US Bank 2012 Annual Report Download - page 4
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Of particular note, in 1902, the U.S. National Bank of
Portland was merged into the Ainsworth National Bank of
Portland, but the decision was made to keep the U.S. National
Bank name. This choice turned out to be auspicious when,
11 years later, a federal law prohibited other banks from
using United States in their names from that time forward.
U.S. National was among the first banks to form a one-bank
holding company — called U.S. Bancorp.
Through the past 150 years, hundreds of fine banks,
whose customers, branches, expertise and assets combined
with these ancestor banks, helped to make us a strong,
sound company.
Transformational mergers occurred during the 1990s,
as Star, Firstar and Mercantile merged to become the new
Firstar, and First Bank System and U.S. Bancorp combined
under the U.S. Bancorp name. And on February 27, 2001,
Firstar and U.S. Bancorp became the new U.S. Bancorp,
building a strong and forward-looking foundation on
which to continue our growth.
It’s a great heritage we enjoy — and we work hard to
preserve the legacy.
On February 26, 1863, President
Abraham Lincoln signed one
of the two National Bank Acts that
established a system of national
banks, established the Office of
the Comptroller of the Currency
and authorized the Comptroller to
examine and regulate nationally
chartered banks. On July 13, 1863,
The First National Bank of Cincinnati
was formed under national Charter
#24, signed by Lincoln’s Comptroller
of the Currency, Hugh McCullough.
U.S. Bancorp still operates under
the same charter, one of the oldest
active charters in the industry today.