U.S. Bank is enhancing its business banking efforts by expanding into several Southeastern states with plans to hire at least a dozen bankers within the next six months. This initiative, led by Dee O’Dell, the head of business banking sales at the Minneapolis-based bank, aims to establish a stronger presence in regions that currently lack bank branches. The targeted states for this expansion include Alabama, Florida, Georgia, Louisiana, Mississippi, and South Carolina.
In recent months, U.S. Bank has made significant strides in other markets, adding teams in areas identified for greater growth potential, such as Charlotte, North Carolina, Las Vegas, and Chicago. This year alone, the bank has brought on approximately 250 new employees within the business banking division. In Houston, the bank recently appointed a new business banking team, expanding its workforce by four individuals, with plans to recruit two more.
U.S. Bank’s business banking segment, which caters to companies with annual revenues ranging from $2.5 million to $50 million, currently employs around 1,200 individuals nationwide, serving approximately 75,000 clients. This segment is a vital component of the bank’s revenue strategy, contributing about 32% to its overall revenue of $21.3 billion as of September 30.
To meet the diverse credit needs of its commercial clients, U.S. Bank offers various financial products, including conventional loans, owner-occupied real estate loans, and Small Business Administration (SBA) loans. O’Dell emphasized that many clients in this revenue range are looking to diversify their operations, which often includes aspirations to own additional real estate.
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In a competitive banking landscape, U.S. Bank is actively refining its approach to service delivery by integrating various offerings, such as credit cards, merchant processing, treasury management, and wealth management solutions. This holistic strategy aims to provide clients with comprehensive financial solutions.
Innovative tools have also been developed to assess business efficiency and needs. One proprietary diagnostic tool, created in collaboration with a fintech partner, evaluates financial processes and generates insights for clients. O’Dell noted that this consultative approach has enhanced the bank’s effectiveness in acquiring new clients and fostering meaningful discussions about their financial operations.
Additionally, U.S. Bank has seen significant growth in its SBA lending, having doubled its lending in this area over the past two years. In fiscal 2025, the bank reported $871.2 million in SBA 7(a) loans, reflecting a 23% increase from the previous year. This area of lending is particularly crucial for businesses facing ownership transitions, as it provides necessary capital for those looking to sell their businesses or pass them on to new owners.
O’Dell highlighted the opportunity for U.S. Bank to support both current business owners who are nearing retirement and aspiring next-generation entrepreneurs by facilitating the acquisition of businesses. This dual focus underscores the bank’s commitment to ensuring a smooth transition and continuity for businesses while also helping to establish new leadership in the marketplace.
