Mairs and Power Comments on U.S. Bancorp

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Feb 01, 2021

On the negative side, one of the Fund's biggest detractor in 2020 was U.S. Bancorp (USB, Financial). Like all banks, U.S. Bank was hurt by the difficult interest rate environment and credit cycle concerns. We believe banks are strong enough to survive the current sector doldrums, and they remain some of the market's most attractive opportunities.

From Mairs and Power (Trades, Portfolio) Growth Fund's fourth-quarter 2020 letter.

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