PORTLAND, Ore -- U.S. Bancorp said it has converted 29 thrift branches and a loan center into offices of its California banking subsidiary.
These moves triple the number of offices operated by U.S. Bank of California, which is based in Sacramento. The switch also broadens the bank's geographic reach by giving it a presence in 12 additional counties in Northern California.
U.S. Bancorp, based in Portland, said the 29 thrift branches had been part of the acquisition of HeartFed Financial Corp. The loan center was formerly a branch of San Francisco Federal Savings and Loan Association.