U.S. Bank to Acquires F.N.B.'s Corporate Trust Administration (USB)

U.S. Bancorp USB announced today that its lead bank, U.S. Bank N.A., has reached an agreement to acquire the bond and transfer agent business of First National Trust Company, a subsidiary of First National Bank of Pennsylvania. "This acquisition exemplifies U.S. Bank's ongoing commitment to continued strategic business investments," said Bryan Calder, president of U.S. Bank Corporate Trust Services. "The acquisition complements the existing U.S. Bank corporate trust business and will strengthen our competitive position as a leading national trustee for new municipal issuances..."