 Firstar completed its buyout of U.S. Bancorp on February 27, 2001 and changed its name to U.S. Bancorp.Under the merger agreement, Jerry Grundhofer, president and chief executive officer of Firstar, would continue in those positions in the combined company while his older brother, John Grundhofer, chairman, president and chief executive officer of U.S. Bancorp, would serve as chairman of the board in the combined company until his planned retirement on December 31, 2002.Though some administrative functions would remain in Milwaukee and Cincinnati, it was decided that the new combined company would be based in Minneapolis and that the new company would use the U.S. Bancorp name.