Ken Kirkpatrick Named as New President of U.S. Bank in Washington

Business Wire, Dec 6, 2001

Business Editors

SEATTLE--(BUSINESS WIRE)--Dec. 6, 2001

Ken Kirkpatrick has been named as the new president of U.S. Bank in Washington to replace Pat Dineen, who recently announced his retirement, effective December 31, 2001.

Jerry Grundhofer, president and chief executive officer of U.S. Bancorp (NYSE:USB), the parent company of U.S. Bank in Washington, noted, "Ken is a true success story, he started with the organization as a teller in 1971 and has now worked his way up to president. Also, he is a native of the Seattle area and is very familiar with the financial service needs of individuals and businesses in the community. He has done an impressive job in our commercial banking group and knows the importance of providing value-added customer service. Ken will be instrumental in continuing our commitment to current customers and in pursuing new business opportunities for U.S. Bank in markets such as Seattle, Tacoma, Everett and others in Washington."

Kirkpatrick, who prior to being named to replace Dineen as market president, was executive vice president of U.S. Bank in Washington's commercial banking group. Kirkpatrick also previously served as a senior vice president and manager of the East King County commercial banking group. He has also worked in the organization's retail banking division.

An active member of the community, Kirkpatrick has served as board chairman of Junior Achievement of King County, board member of the Bellevue Art Museum and board member of the Bellevue Downtown Association.

Born and raised in the Seattle area and a graduate of Chief Sealth High School, Kirkpatrick holds a bachelor's degree from the University of Washington. Additionally, he has completed courses at the Pacific Coast Banking School and at Northwestern University's Kellogg Executive Program.

As for Dineen, who will be replaced by Kirkpatrick as market president, Grundhofer remarked, "Pat has done an outstanding job as market president of U.S. Bank in Washington. U.S. Bank will continue to be a dynamic force in the market's financial arena, thanks to our excellent team of bankers and their dedication to individual customers, businesses and other members of the community."

Dineen plans to concentrate his efforts on fishing and his farming, where he is developing a vineyard. Dineen will stay with the organization until the end of the year to assure a smooth transition in leadership.

Prior to becoming market president Dineen was commercial banking manager for U.S. Bank in Washington beginning in January 1993. He joined U.S. Bank in 1987 when U.S. Bank acquired Old National Bank, where he had been since 1982. A resident of Washington for more than 30 years, he is a graduate of Marquette University in Wisconsin and holds a bachelor's degree in finance. He is also a graduate of the Pacific Coast Banking School at the University of Washington.

U.S. Bancorp with assets in excess of $168 billion, is the 8th largest financial services holding company in the United States. The company operates 2,186 banking offices and 4,937 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee which assures customers of certain key banking benefits and services or customers will be paid for their inconvenience. U.S. Bancorp is the parent company of Firstar Bank and U.S. Bank. Visit U.S. Bancorp on the web at www.usbank.com and Firstar Bank at www.firstar.com.