SIDNEY — U.S. Bank enjoyed another productive year in 2015.
“We saw growth in commercial and commercial real estate lending toward the second half of 2015 in addition to consumer lending growth during the year as our clients took advantage of a slowly improving economy, a low interest rate environment as well as our industry leading products,” said Andrew D. Counts, Northern Ohio Regional president. “We also saw increases in our deposit base as non-interest bearing account balances grew over 13 percent for the year and savings and checking account balances grew over 6 percent for the year.”
His report continues:
At year-end our deposits had grown to over a billion dollars. We continue to see growth in our consumer and business deposit products with our small business lending showing a growth of over 11 percent year over year. Our industry leading mobile banking applications continue to play a major role in our strong deposit growth in consumer and business banking. Last our Private Client Group continued to show growth from our emphasis on personalized financial planning, growing our assets under management over 6 percent on a year over year basis.
Our region also welcomed 13 branches which were formally in U.S. Bank’s Eastern Ohio region and were incorporated into our Northern Ohio region in October of 2015. The addition of these branches brings our region’s branch total to 41 branches operating in 18 counties in Ohio. The 13 additional offices and 6 existing offices make up our Northeast District which is led by Jeffery East, Community Bank President and District Manager who brings 35 years of financial services leadership to this group. We are very fortunate to add these branches to our region and look forward to growing with them in 2016.
Our employees are very involved in the communities they serve. In 2015 our employees participated in over 17 local boards such as Troy Development Council, Seneca Industrial and Economic Development Corporation, Compassionate Care, United Way and The Arc of Erie County to name a few. Our employees also helped our communities by sponsoring over 16 seminars in our market. We participated in SBA lending seminars, Teach Children to Save days and Home Buying Seminars. Our region also sponsored 40 agency grants from our U.S. Bank Foundation to our communities and these grants help fund numerous needs and projects in our communities.
Finally, I want to thank our local Advisory Board consisting of Timothy Geise, president of Dickman Supply Inc.; Martin Given, president of Ferguson Construction Company; Mark Hamler, president of Hamler Gingrich Insurance; Diane Meyer, motivational speaker; Charles Rhyan, assistant director of Western Ohio Computer Organization; Bradley Smith, assistant treasurer of Crown Equipment Corporation; Steven Staley, vice president of Koverman Staley Dickerson Insurance; Jerrold Stammen, retired president of North Star Hardware & Implement Company; and Timothy Weaver, president of Weaver Brothers Inc. for their continued support and leadership throughout the year.
U.S. Bancorp (NYSE: USB), with $422 billion in assets as of December 31, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,133 banking offices in 25 states and 4,936 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.