U.S. Bancorp (USB) announced that, effective immediately, its lead bank, U.S. Bank National Association, has acquired the banking operations of BankEast, a subsidiary of BankEast Corporation, from the Federal Deposit Insurance Corporation or FDIC. BankEast is based in Knoxville, TN.
U.S. Bank will receive approximately $272 million of assets and assume $268 million of insured and uninsured deposits of BankEast.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.