Firstar Corporation
| Firstar Bank | |
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Formerly called
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| Traded as | : FRS |
| Industry | Banking |
| Fate | Changed name to U.S. Bancorp after acquiring U.S. Bancorp |
| Successor | U.S. Bancorp |
| Founded | 1853 in Milwaukee, Wisconsin as Farmer's and Millers Bank |
| Defunct | February 27, 2001 |
| Headquarters | Milwaukee, Wisconsin |
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Area served
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Wisconsin, Illinois, Minnesota, Iowa, Ohio, Missouri |
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Key people
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| Website | archived official website |
Firstar Corporation was a Milwaukee, Wisconsin-based regional bank holding company that later became U.S. Bancorp, a nationwide bank corporation in the United States. In 2001, Firstar acquired U.S. Bancorp and assumed its name, moving its headquarters to Minneapolis.
Firstar was founded in 1853 in Milwaukee, Wisconsin, as Farmer's and Millers Bank. It became First Wisconsin National Bank in 1919 as a result of internal evolution as well as mergers.
In 1929, a bank holding company named Wisconsin Bankshares Corporation was created to be the owner for First Wisconsin National Bank and for acquiring other banks. 31 years later, the holding company was renamed First Wisconsin Bankshares Corporation in 1960. In 1974, the name of holding company was changed again to First Wisconsin Corporation and finally to Firstar Corporation in 1988. Some of the subsidiary banks did not adopt its parent's new corporate name until as late as 1992 when the First Wisconsin brand was finally retired.
First Wisconsin constructed a new 42 stories tall headquarters building in Milwaukee that was called the First Wisconsin Center and is the tallest building in Wisconsin. This building was opened in 1973.
Unusual for a small regional bank, First Wisconsin was active during the 1970s and 1980s in lending money to companies in South America to assist those companies in the purchase of American products. Because of First Wisconsin's involvement in the international loan market, First Wisconsin became involved in the Latin American debt crisis and lost some money when some of their clients defaulted.
In January 1987, Roger Fitzsimonds replaced Gary B. Rafn as president and chief operating officer of First Wisconsin Corp.
In February 1991, Roger Fitzsimonds replaced John Hendee Jr. as chairman and chief executive officer of Firstar Corp.
In February 1989, Firstar announced the pending acquisition of the Elkhorn-based Elkhorn Bankshares Corporation for an undisclosed amount.
In September 1991, Firstar announced the pending acquisition of the Wauwatosa-based Federated Bank for $33 million in cash and stock.
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Wikipedia