U.S. Bank Expands in Southeast to Serve Growing Small Business Market

U.S. Bank is accelerating its expansion across the Southeast, aiming to reach more mid-sized businesses and strengthen its presence in one of the country’s fastest-growing commercial regions.

The Minneapolis-based lender—currently the fifth-largest bank in the U.S. with $695 billion in assets—plans to hire at least a dozen new business bankers over the next six months, according to Banking Dive.

The hires will be placed in states where the bank has no physical branches, with likely targets including Alabama, Florida, Georgia, Louisiana, Mississippi, and South Carolina. Dee O’Dell, head of business banking sales, emphasized that the bank sees a surge in demand across the region, describing the expansion as part of a long-term growth strategy.

Growing Presence in Key Cities

The Southeastern push mirrors U.S. Bank’s broader hiring momentum in other major markets. Recent additions include new banker teams in Charlotte, Las Vegas, and Chicago, as well as a four-person business banking unit in Houston, with two more hires underway. Nationwide, roughly 1,200 U.S. Bank business banking staff serve around 75,000 clients, typically companies generating $2.5 million to $50 million in annual revenue.

Business banking remains central to U.S. Bank’s profitability. Its consumer and business division accounts for 32% of total revenue, contributing to the bank’s $21.3 billion in earnings through Sept. 30, according to parent company U.S. Bancorp.

U.S. Bank offers a wide range of services to commercial clients, from conventional loans and real-estate financing to treasury management, foreign exchange, and wealth advisory support. Many mid-sized companies, O’Dell noted, are looking not only to grow their primary businesses but to diversify—often by buying commercial real estate. “We’ve got the ability to provide capital for them, not only for their core business, but for investment real estate,” she said.

To deepen those relationships, the bank uses a proprietary diagnostic tool—developed with a fintech partner—to help businesses assess financial operations, identify inefficiencies, and reduce fraud risk. This consultative approach has proven effective in opening doors with companies that may not initially think they need expanded banking services.

SBA Lending a Key Growth Engine

One of U.S. Bank’s fastest-growing areas is Small Business Administration (SBA) lending. In fiscal 2025, the bank issued $871.2 million in SBA 7(a) loans, up 23% from the prior year. SBA loans are increasingly important for business succession planning, particularly when family members choose not to take over an owner’s company.

These loans enable retiring business owners to sell to employees, new operators, or private equity buyers while supporting the next generation of entrepreneurs.

The Southeast has seen some of the nation’s strongest business formation and population growth over the last five years—conditions U.S. Bank aims to capitalize on. While no timeline has been set for opening physical branches, the bank’s hiring move signals an intent to establish a deeper foothold in the region.

As competition among national banks intensifies, U.S. Bank is betting on a combination of SBA loan growth, high-touch advisory services, and strategic hiring to expand its influence across the Southeast’s booming business landscape.