U.S. Bancorp (NYSE:USBpH.PFD)

$ 22.88 -0.2 (-0.87%) Market Cap: - Enterprise Value: 44.63 Bil PE Ratio: 16.14 PB Ratio: 1.58 GF Score: 72/100

US Bancorp at Sanford C Bernstein Strategic Decisions Conference Transcript

Jun 02, 2023 / 01:00PM GMT

Release Date Price: $17.84 (+1.19%)

Transcript

John Eamon McDonald

Bernstein Autonomous LLP

Good morning. Next up is U.S. Bancorp. We have CEO, Andy Cecere; CFO, Terry Dolan. Thank you, guys, for joining us. I appreciate you being here.

Questions & Answers

John Eamon McDonald

Bernstein Autonomous LLP

And we'll kick off talking about your big weekend. Last weekend, you had the big conversion of Union Bank onto U.S. Bank's platform.

Andrew J. Cecere

U.S. Bancorp - Chairman, President & CEO

We did. Thank you, and good morning, everyone. John, as you said, Memorial Day weekend, we successfully converted and integrated Union Bank onto the U.S. Bank system. That included about $1.2 million consumer and small business customers, about 3,000 commercial customers. And importantly, to date, we've already enrolled in our digital capabilities about 300,000 of those customers.

As you might expect with any large conversion, we prepared for and we're ready for any unknowns, which always happen in the conversion. And we had a couple of technical

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