U.S. Bank Names New Regional Manager for Commercial Banking in San Francisco

SAN FRANCISCO--Edward Schultz has joined U.S. Bank as a senior vice president and regional manager for U.S. Bank Commercial Banking in the San Francisco Bay Area. He will report to Michael Walker, market president for U.S. Bank in San Francisco.

Schultz, 55, was most recently senior vice president and manager, Bay Area Commercial Banking for Bank of the West in San Francisco. He has worked in the financial services industry in California for 31 years, 23 of which have been in the San Francisco Bay Area.

A graduate of Stanford University with a bachelor's degree in economics, Schultz earned his MBA in finance from the University of California Los Angeles (UCLA). He served on the Stanford Alumni Board of Director's, founded the Stanford-San Jose Luncheon Club and chaired the annual Stanford/Cal 'Big Game' rally and luncheon from 1989-1995.

He served as a board member for the Los Angeles World Trade Center, California Council for International Trade. Schultz is also a strong supporter of community affairs, serving on the board of the San Jose Museum of Art, Leadership Sunnyvale, Santa Clara Valley Manufacturing Group and San Jose Archbishop Mitty High School. He chaired the Union Bank "Heart of the City" 5K Run and was a member of the advisory committee for San Jose Mayor, Ron Gonzalez.

Schultz now lives with wife, Elaine, in Ross, in Marin County, Calif. He will work out of the new U.S. Bank northern California region headquarters at One California in San Francisco.

U.S. Bancorp (NYSE:USB), with $204 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,383 banking offices and 4,877 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee in which the company pays customers if certain key banking benefits and services are not met. U.S. Bancorp is the parent company of U.S. Bank.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.