U.S. Bank Increases Prime Lending Rate to 8.50 Percent
July 26 2023 - 5:30PM
Business Wire
U.S. Bancorp (NYSE: USB) announced it has increased its prime
lending rate to 8.50 percent from 8.25 percent, effective tomorrow,
July 27, 2023, at all U.S. Bank locations. The prime lending rate
replaces the reference rate formerly used by MUFG Union Bank,
National Association.
About U.S. Bancorp:
U.S. Bancorp, with approximately 77,000 employees and $681
billion in assets as of June 30, 2023, is the parent company of
U.S. Bank National Association. The Minneapolis-based company
serves millions of customers locally, nationally and globally
through a diversified mix of businesses: Consumer and Business
Banking; Payment Services; Corporate & Commercial Banking; and
Wealth Management and Investment Services. Union Bank, consisting
primarily of retail banking branches on the West Coast, joined U.S.
Bancorp in 2022. U.S. Bancorp has been recognized for its approach
to digital innovation, social responsibility, and customer service,
including being named one of the 2023 World’s Most Ethical
Companies and Fortune’s most admired superregional bank. To learn
more, please visit the U.S. Bancorp website at usbank.com and click
on “About Us”.
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version on businesswire.com: https://www.businesswire.com/news/home/20230726579754/en/
Investor contact: George Andersen, Director of Investor
Relations, U.S. Bancorp Investor Relations – 612.303.3620,
george.andersen@usbank.com
Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and
Communications – 612.303.9933, jeffrey.shelman@usbank.com
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