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U.S. BANK INCREASES ITS SIZE AND PRESENCE IN NORTHERN CALIFORNIA

 PORTLAND, Ore. and SACRAMENTO, Calif., March 1 /PRNewswire/ -- U.S. Bancorp (NASDAQ: USBC) today announced that its subsidiary, U.S. Bank of California, has increased its size, presence and convenience to customers in Northern California with the conversion of nine HomeFed branch sites along with deposits of seven additional HomeFed branches to U.S. Bank of California over the weekend.
 The acquisition adds approximately 46,000 new accounts to U.S. Bank and increases its number of branches throughout Northern California to 66. Combined deposits of the acquisition total $481 million. U.S. Bank of California now has grown to more than $2 billion in assets.
 The conversion will be marked by the unveiling of U.S. Bank signs at all nine former HomeFed sites on Monday, March 1.
 The addition of the HomeFed branches reinforces U.S. Bank's position as the third largest bank in Northern California. "The acquisition allows us to strengthen our network, providing products and services more conveniently to our customers and increasing our visibility and investment in the communities we serve," said Stuart R. Foster, chairman and chief executive officer of U.S. Bank of California. "This is another step in our long-term growth plan and commitment to serve Northern California."
 U.S. Bank recently leased more than 88,000 square feet of office space in one of Sacramento's signature office buildings that, pending regulatory approval, will become U.S. Bank's headquarters in California. The lease was one of the largest private leases to be executed in the Sacramento area last year. The 25-story highrise was re-named U.S. Bank Plaza on Tuesday, Feb. 23.
 U.S. Bank established its presence in California in 1988 with the purchase of Bank of Loleta. Mother Lode Savings Bank was acquired the following year. In 1991 U.S. Bank acquired the 29-branch, Auburn-based HeartFed Corp.; and in 1992, U.S. Bank of California grew to include 20 divested Security Pacific and Bank of America branches.
 Customer accounts at the seven HomeFed branch locations where U.S. Bank acquired only the deposits, and not the branch sites, have been moved to a nearby existing U.S. Bank branch. In each case, a U.S. Bank branch is within a few blocks of the HomeFed locations. Through the coordinated effort of HomeFed employees and U.S. Bank's experienced management team, customers should experience very little change on March 1.
 U.S. Bank paid a $12.5 million deposit premium for the 16 HomeFed branches. This is a deposit premium of 2.60 percent.
 U.S. Bank offers customers a wide range of retail and commercial financial products and services including: savings and checking accounts; multiple-network UBANK(R) ATM services; toll-free, 24-hour telephone account assistance; credit and lending services; home mortgage services; investment services; and diverse commercial banking products and services.
 U.S. Bank of California is a subsidiary of U.S. Bancorp, which provides a large range of financial services in Northern California, Nevada and throughout the Northwest. The largest bank holding company headquartered in the Northwest, U.S. Bancorp is a consistent high performer among the top 50 banks in the country. U.S. Bancorp has assets of $20.7 billion as of Dec. 31, 1992. Other U.S. Bancorp subsidiaries include U.S. Bank of Oregon, U.S. Bank of Nevada, U.S. Bank of Idaho and U.S. Bank of Washington.
 U.S. BANK OF CALIFORNIA
 HomeFed Acquisitions
 March 1, 1993
 New U.S. Bank Branches
 Redding Cluster:
 City Branch Name Address
 Anderson Anderson 2750 Childress Dr.
 Redding Enterprise 2920 Bechelli Lane
 Redding Redding Hilltop 1110 Dana Dr.
 Weaverville Weaverville 409 Main St.
 Sacramento Cluster:
 City Branch Name Address
 Sacramento Campus Commons 2264 Fair Oaks Blvd.
 Citrus Heights Citrus Heights 5901 Sunrise Blvd.
 Sacramento Greenhaven 950 Florin Road
 Roseville Roseville 1800 Douglas Blvd.
 Sacramento Country Club 2460 Watt Avenue
 HomeFed Deposits Acquired by U.S. Bank and Transferred to
 Existing U.S. Bank Branches
 HomeFed Branch Name Existing U.S. Bank Branch to Receive
 Deposits
 Crescent City/175 H St Crescent City/1020 Third St.
 Eureka/612 G St Eureka Main/402 F St.
 Red Bluff/710 Main St Red Bluff/801 Main St.
 Folsom/707 E. Bidwell St Folsom/521 E. Bidwell St.
 Natomas/1600 W. El Camino Sacramento Main/800 L St.
 Yuba City/1133 Butte House Yuba City/903 Colusa Ave.
 Redding/1255 Yuba St. Redding/1700 Pine St.
 -0- 3/1/93
 /CONTACT: Rick Jensen, public relations of U.S. Bank of California, 916-552-1872; or Mary Ruble, public relations of U.S. Bancorp, 503-275-6200; or Don Bowler, investor relations of U.S. Bancorp, 503-275-5702/
 (USBC)


CO: U.S. Bancorp; U.S. Bank of California ST: California IN: FIN SU: TNM

LS-JB -- SE007 -- 1328 03/01/93 10:46 EST
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Date:Mar 1, 1993
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