U.S. Bank, the primary operating subsidiary of U.S. Bancorp, traces its complex corporate lineage through numerous historic banking institutions, most notably Minneapolis-based First Bank System. Following a massive strategic merger and acquisition strategy that unified multiple regional banks across the American Midwest and West, First Bank System chose to acquire and adopt the globally recognized U.S. Bank name because of its profound historic brand equity. The parent holding company subsequently changed its corporate name officially to U.S. Bancorp to align its parent identity with its flagship banking subsidiary.