U.S. Bank is stepping up its presence across the Southeast, aiming to reach more businesses and broaden its lending services, including Small Business Administration (SBA) loans.
According to Banking Dive, the Minneapolis-based bank, with $695 billion in assets, is actively hiring bankers in areas where it doesn’t currently operate branches. Dee O’Dell, head of business banking sales, confirmed that within six months, U.S. Bank plans to bring on at least a dozen new bankers in a couple of Southeastern states. Though they weren’t specified, possibilities include Alabama, Florida, Georgia, Louisiana, Mississippi, and South Carolina, the outlet notes. While O’Dell did not go into detail, the bank is clearly positioning itself to tap into growing business markets across the region.
This expansion follows recent moves in other key markets. Banking Dive states that U.S. Bank has added multiple banker teams in cities like Charlotte, Las Vegas, and Chicago, reflecting its strategy to meet rising demand. It also notes that in Houston, the bank recently added a four-person business banking team, with two more positions in the pipeline. Across the country, roughly 1,200 business banking employees support around 75,000 clients — those who generate between $2.5 million and $50 million in annual revenue.
Business banking contributes significantly to U.S. Bank’s bottom line. The consumer and business banking segment accounts for roughly 32% of the bank’s total revenue, which reached $21.3 billion through Sept. 30 of this year, according to a report by its parent company U.S. Bancorp. Services offered to commercial clients range from conventional loans and owner-occupied real estate financing to SBA-backed lending, providing companies with capital for growth or investment opportunities.
Clients in that size range often “not only have their primary business, but they’re looking for ways to diversify,” O’Dell said, according to Banking Dive. “They not only want to own the building they’re in, they may want to own some other buildings as well, and so we’ve got the ability to provide capital for them, not only for their core business, but for investment real estate.”
Beyond lending, U.S. Bank emphasizes a comprehensive approach, connecting clients with services like credit cards, merchant processing, treasury management, foreign exchange, and wealth management. As Banking Dive notes, a proprietary diagnostic tool, developed alongside a fintech partner, helps businesses evaluate financial operations and needs, streamline efficiency, and reduce risks like fraud. This consultative approach has strengthened U.S. Bank’s ability to engage potential clients who may not initially see a need for banking services.
The bank is also focused on SBA lending, which has seen rapid growth in recent years. In fiscal 2025, U.S. Bank issued $871.2 million in SBA 7(a) loans, a 23% increase from the previous year, according to a news release. These loans can be crucial for succession planning, especially if a child is not taking on a retiring owner’s business. This way, the owner is able to sell to new operators, employees, or private equity firms while helping the next generation secure capital to acquire companies, Banking Dive notes.
