U.S. Bancorp to Add About 60 Bankers for Middle-Market Push

Expansion Plan and Targets

Minneapolis-based U.S. Bancorp plans to bring on about 60 bankers to work with mid-sized companies, targeting businesses that generate $50 million to $1 billion a year. These additions will be placed across markets such as Texas, California and Florida. The bank has also outlined spending on branches and plans to move into new states.

Organization and Leadership

Hassan Salem, head of middle-market banking, said he currently manages about 230 bankers in this group. He reports to Felicia La Forgia, who runs a sales-focused unit launched in 2024 under Gunjan Kedia, then the bank's president and now its chief executive. The team is built around direct client engagement and is designed to bring together deposit products, loans, payments and investment banking. "Lending is only part of the opportunity, but the value is much deeper than that, as we bring the full bank to those clients," Salem said.

Products, Competition and Capabilities

The hiring push lands in a more crowded field as large banks like JPMorgan Chase and Bank of America move further into serving mid-sized companies. Earlier this year, U.S. Bancorp acquired BTIG LLC, which Salem said gives the bank more ways to advise on transactions and raise money for clients. "They're predominantly a mid-market investment bank, which lines really well with the type of clients that we have within the mid-market business here," he said.

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What This Means for Your Portfolio

When Kedia became CEO in April 2025, she highlighted cost control, operational improvements and restoring confidence in the stock after years positioned near the bottom of the KBW Bank Index. The shares are up more than 13% this year, outpacing the index. For 2026, management projects total net revenue growth of 8% to 9%, as stated in an October investor presentation. Watch how the middle-market buildout and BTIG integration show up in fee growth and wider product adoption - that is where the revenue lift would likely appear next.

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