Robert Horsman, US Bank's regional chairman in San Diego, calledthe transaction "wonderful news" for the employees and customerswho have come to US Bank from San Diego National Bank, as well asfor the community.

"This building has a special place in many hearts," Horsman, theformer president and chief executive officer of San Diego NationalBank, said in a statement. "The decision to make this location acornerstone of US Bank's operations in San Diego demonstrates atrue blending of cultures as we move forward and create newsuccesses together."

US Bank currently occupies 81,000 square feet of 1420 Kettner,which was built in 1984. The institution plans to increase theamount of space it occupies as certain business lines grow andrelocate to the building. New US Bank signage will appear on thebuilding at the time that the San Diego National Bank conversiontakes place. Terms of the sale, which was a direct deal between thebank and the FDIC, were undisclosed.