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NEW U.S. BANK UNIT IN CANADA TO SERVE CROSS-BORDER BUSINESSES

 VANCOUVER, B.C., Sept. 16 /PRNewswire/ -- Portland, Ore.-based U.S. Bancorp (NASDAQ: USBC) announced it has opened a subsidiary bank in Vancouver, British Columbia to meet the needs of Canadian and U.S.-based businesses which have cross-border activity or operations. U.S. Bank (Canada) will specialize in providing services for commercial banking customers in the pacific northwestern United States and western Canada.
 U.S. Bancorp Chairman and Chief Executive Officer Roger Breezley said, "This is a demonstration of our commitment to increased regional unity between companies located in the northwestern United States and the provinces of western Canada. Our step across the border meets the needs of our West Coast customers and further expands U.S. Bancorp's growth in the Northwest."
 During its initial phase, U.S. Bank (Canada) will operate strictly as a commercial bank, serving business customers in British Columbia, Alberta and the western United States. The president of the new Canadian operation is John Spikerman. Previously, he was vice president and manager of the Vancouver branch of Barclays Bank of Canada.
 "Vancouver is a gateway city and the focus of commercial activity in western Canada," said Spikerman. "As one of the largest and oldest banks in the Pacific Northwest, U.S. Bank is now well-positioned to help our Canadian customers with their business needs in Canada and the U.S. We offer a full range of commercial banking services throughout U.S. Bancorp's five-state service area in the U.S., which includes more than 400 branch offices in Washington, Oregon, Idaho, Northern California and Nevada."
 Among the commercial banking services offered by U.S. Bank (Canada) will be cash management, foreign exchange, commercial lending, trade finance, lockbox, commercial checking and money transfers. U.S. Bank (Canada) customers typically will have annual sales of $5-$100 million and an interest in cross-border markets.
 "We believe the cross-border business trend provides a significant niche and a timely opportunity for our bank to build a productive client base, not only with companies in Western Canada that have active operations and business interests in the U.S., but also with U.S. customers who need banking support in Canada," said Spikerman.
 U.S. Bank (Canada) is located at 1055 Dunsmuir St., Suite 2684, in Vancouver, B.C. The bank is a subsidiary of U.S. Bancorp, the largest bank holding company headquartered in the northwestern United States. With assets of $20.8 billion as of June 30, 1993, U.S. Bancorp is one of the United States' 35 largest bank holding companies and has consistently ranked among the top tier of these companies in performance and capital strength. Other U.S. Bancorp subsidiaries include U.S. Bank of Oregon, U.S. Bank of Washington, U.S. Bank of California, U.S. Bank of Nevada and U.S. Bank of Idaho. Other financial service businesses include U.S. Bancorp Mortgage Co. and U.S. Bancorp Securities and Trust Group.
 -0- 9/16/93
 /CONTACT: Mary Ruble, Public Relations, of U.S. Bank, 503-275-6200/
 (USBC)


CO: U.S. Bancorp ST: Oregon IN: FIN SU:

JH -- SE004 -- 2625 09/16/93 10:56 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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