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US BANCORP

(USB)
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US Bancorp : Why this serial entrepreneur chose to join a 150-year-old bank

07/22/2021 | 01:28am EDT

Along the same lines, Eslick continued, 'U.S. Bank's commitment to transformation gives engineers and technologists like myself an opportunity to have a more profound impact on how we work, on our employees and customers, than we can have in most places.'

As head of enterprise engineering, technology strategy and modernization, Eslick is involved in companywide efforts to make major technology investments that aim to improve user experiences for customers and employees.

One such effort was our participation in the Small Business Administration (SBA) Paycheck Protection Program (PPP), which relied on banks processing loans to help businesses keep their workforces employed during the COVID-19 pandemic. As the SBA rolled out PPP, Eslick spent early mornings and late nights with a cross-functional team including both senior executives and company engineers to design a business process and build the supporting technology.

'In a matter of days, the team was able to build a new process that scaled to tens of thousands of loans per week,' said Eslick. As a result of the work, we supported nearly 174,000 business in need with loans that totaled $10.7 billion and helped more than 1.3 million workers.

Eslick believes PPP was a rare opportunity for senior leadership to experience the potential of Agile technology practices where technology teams are directly contributing to solving business problems.

This is exemplary of the product culture he's working to build at our company, with the fundamental aim to create tools that thousands of employees and millions of banking customers actually like using. And building that type of culture - one that embraces the disruptive role of technology in banking - means both growing and hiring talent.

Disclaimer

U.S. Bancorp published this content on 22 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2021 05:27:10 UTC.


ę Publicnow 2021
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Financials (USD)
Sales 2021 22 710 M - -
Net income 2021 7 411 M - -
Net Debt 2021 - - -
P/E ratio 2021 12,0x
Yield 2021 2,94%
Capitalization 88 646 M 88 646 M -
Capi. / Sales 2021 3,90x
Capi. / Sales 2022 3,73x
Nbr of Employees 68 108
Free-Float 69,7%
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Technical analysis trends US BANCORP
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 59,79 $
Average target price 63,93 $
Spread / Average Target 6,92%
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Managers and Directors
Andrew J. Cecere Chairman, President & Chief Executive Officer
Terrance R. Dolan Chief Financial Officer & Vice Chairman
Jeffry H. von Gillern Vice Chairman-Technology & Operations Services
Katherine B. Quinn Vice Chairman & Chief Administrative Officer
Olivia Faulkner Kirtley Lead Independent Director
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