U.S. Bank Expands Business Banking Team in Southeast States

Minneapolis, Minnesota — U.S. Bank is stepping up its business banking operations by adding more bankers in the Southeast. Over the next six months, the bank plans to hire a dozen bankers in states where it currently lacks branches, according to Dee O’Dell, head of business banking sales.

The expansion comes after the bank recently added teams in Dallas and Houston, and it has employed about 250 new people this year alone. O’Dell highlighted that four new bankers recently joined the Houston team, with plans for two more hires.

Business banking at U.S. Bank serves companies with annual revenues ranging from $2.5 million to $50 million, with about 1,200 employees serving roughly 75,000 clients across the country. The overall consumer and business banking segment contributed $21.3 billion in revenue this year.

U.S. Bank offers various financing options, including conventional loans and Small Business Administration (SBA) loans. O’Dell pointed out that many clients look to diversify their investments, such as owning multiple properties.

In a competitive banking environment, U.S. Bank is integrating its services to provide greater value to clients. O’Dell emphasized a consultative approach through a diagnostic tool, developed with a fintech partner, to assess client needs efficiently.

The tool helps businesses identify inefficiencies and potential improvements. O’Dell believes that leveraging such insights has positively impacted the bank’s ability to attract new clients.

U.S. Bank has also seen a surge in its SBA lending, doubling in the past two years. This segment served as an entry point for many clients seeking capital.

As businesses consider succession plans, U.S. Bank aims to assist owners nearing retirement. O’Dell noted this could involve helping those looking to sell or transfer ownership to prospective buyers.

“We believe there are significant opportunities,” O’Dell said, reflecting on the bank’s commitment to aiding both seasoned and emerging business owners.