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US Bancorp reshuffles some top management

MINNEAPOLIS (AP) -- U.S. Bancorp is reshuffling some top executives ahead of upcoming retirements.

The bank said Tuesday that John Elmore and Kent Stone will succeed Richard Hartnack, vice chairman of consumer and small business banking, when he retires March 1. He has worked at U.S. Bancorp since 2005.

Elmore will oversee community banking and branch delivery and Stone will oversee consumer banking sales and support. Elmore has been with U.S. Bancorp since 1988 and is currently executive vice president of community banking. Stone has been with U.S. Bancorp since 1980 and is executive vice president of consumer banking.

The bank also said that James Chosy will succeed Lee Mitau as executive vice president and general counsel when Mitau retires, also on March 1. He joined the company in 1995.Chosy joins U.S. Bancorp from Piper Jaffray Cos., where he was general counsel and secretary since 2001. Before that he was associate general counsel at U.S. Bancorp.

U.S. Bancorp, based in Minneapolis, is the parent company of U.S. Bank and the fifth-largest commercial bank in the U.S. with $352 billion in assets.

U.S. Bancorp shares rose 7 cents to close at $31.97.