Firstar Corp., the successor to Cincinnati's Star Banc Corp., moved a step closer to becoming a new company — again.

        The Milwaukee-based banking company won approval from the Federal Reserve on Monday to complete its purchase of Minneapolis-based U.S. Bancorp, a deal currently worth $23 billion.

        The merger would create a Midwestern banking powerhouse with assets of about $160 billion and 2,200 branches in 24 states, including Ohio, Kentucky and Indiana.

        The new company will keep the U.S. Bancorp name and be based in Minneapolis. It also would mark the second time in three years that Star Bank, which acquired Firstar in 1998, changed its name.

        But Tristate residents likely won't see the new U.S. Bancorp name dot Cincinnati's skyline for a year, as the companies proceed with the integration process.

        Have a tip about a Tristate company that should be included in our Buzz? Call (513) 768-8147 or e-mail business@enquirer.com.
       

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