501 MARQUETTE | 1915
Headquarters to a predecessor, First National Bank of Minneapolis. The building is sometimes called the Soo Line Building after another original tenant, the railroad whose name is still on the corner clock. |
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1864
First National Bank of Minneapolis and First National Bank of St. Paul are founded.
1929
First Bank Stock Investment Corporation, which includes the “First Nationals” and dozens of other Upper-Midwest banks, is formed as a loose confederation to provide mutual financial support—something like a local version of the FDIC. The banks continue to operate independently, even competing with each other.
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ONE FINANCIAL PLAZA | 1967
Originally the First National Bank building when it opened in 1960, it was the first skyscraper to be built in downtown Minneapolis after World War II. It became First Bank Center in 1967. |
1931
St. Paul’s First National Bank building, which later adds the landmark flashing “1st” sign, opens its doors.
1956
The federal Bank Holding Company Act becomes law, forbidding bank holding companies headquartered in one state from acquiring a bank in another state. The First Bank System, though considered a holding company with banks in multiple states, is grandfathered in.
1968
First Bank Stock Investment Corporation is renamed First Bank System.
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U.S. BANK PLAZA | 1980
Originally called Pillsbury Center, it was renamed after its largest tenant in 2003 (though it’s no longer U.S. Bancorp’s HQ). |
1982
In order to eliminate competition between its members, First Bank System begins to centralize its confederation.
1988
The First Banks of Minneapolis and St. Paul, along with several other Upper-Midwest banks in the First Bank System, are united under the First Bank brand. (The First National names for the Twin Cities banks had disappeared a few years earlier.)
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CAPELLA TOWER | 1992
Originally First Bank Place; designed by renowned architect I. M. Pei. |
1994
The U.S. government allows banks to purchase other banks across state lines, opening up a period of national acquisitions and consolidations.
1997
First Bank System acquires Oregon-based U.S. Bancorp and adopts the U.S. Bancorp name.
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U.S. BANCORP CENTER | 2002
The company’s current headquarters. |
2000
Milwaukee-based Firstar merges with U.S. Bancorp. The “new” U.S. Bancorp remains headquartered in Minneapolis.
DECEMBER 2006
Richard Davis is named president and CEO.
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