TV Station Says U.S. Bank Sold

A Portland television station reported Wednesday night that U.S. Bank, one of the oldest and largest banks in the Pacific Northwest, has been purchased by a Minneapolis-based bank.

KPTV said that First Bank System, a regional multistate bank holding company based in Minneapolis, will pay about $59 a share for U.S. Bancorp, the holding company for the U.S. Bank system based in Portland.

U.S. Bancorp stock closed at 48-1/4 Wednesday.