U.s. Bancorp · NYSE:USB
U.s. Bancorp — Goldman Sachs U.S. Financial Services Conference 2018
17 slides from U.s. Bancorp's conference presentation, Dec 4, 2018
Slide 1: Goldman Sachs U.S. Financial Services Conference 2018
Goldman Sachs U.S. Financial Services Conference 2018 December 4, 2018 Terry Dolan Vice Chairman and Chief Financial Officer Andy Cecere Chairman, President and Chief Executive Officer Exhibit 99.1
Slide 2: Forward-looking statements
The following information appears in accordance with the Private Securities Litigation Reform Act of 1995: Today’s presentation contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs and expectations, are forwar
Slide 3: U.S. Bancorp
U.S. Bancorp As of 9/30/18, except market value as of 11/23/18 NYSE TradedUSB Founded 1863 Market Value $86B Assets $465B Deposits $331B Loans $281B Payment Services and Investment Services Corporate & Commercial Banking and Investment Services
Slide 4: Our Advantaged Position
Our Advantaged Position Source: Company reports and Bloomberg Assets and deposits as of 9/30/18, market value as of 11/23/18 Assets Market Value Deposits
Slide 5: Our Businesses
Our Businesses Consumer & Business Banking, 40% Branch banking, small business banking, consumer lending, mortgage banking and omnichannel delivery Payment Services, 28% Retail payment solutions, global merchant acquiring and corporate payment systems Corporate & Commercial Banking, 18% Corporate ba
Slide 6: Our Financial Performance
Our Financial Performance Return on Average Common Equity Return on Average Assets Efficiency Ratio* 3Q18 YTD Source: company reports; peers include: BAC, BBT, FITB, JPM, KEY, PNC, RF, STI and WFC * Non-GAAP, see slide 16 for calculation
Slide 7: Our Strategy
Our Strategy Adapting to meet customer expectations Embracing change Leveraging technology and innovation Creating a nimble and agile environment Making it easy to do business with us Optimizing everything Building on our ethical culture Safeguarding our customers’ information Putting our customers
Slide 8: Our Approach to Technology and Innovation
Our Approach to Technology and Innovation We leverage technology both defensively and offensively to… Drive growth and returns Drive revenue Increase efficiency Minimize risk and loss Our key areas of focus and accelerated investment are: Digital B2B Payments
Slide 9: We're Progressing on Our Journey
We’re Progressing on Our Journey Improving the customer experience Being available to our customers with the products and services they need, when and where they need them Making it simple to do business with us As banking evolves, we are focused on the opportunities created by technology and digiti
Slide 10: Delivering a Seamless Experience Through Digital
Delivering a Seamless Experience Through Digital We are doubling down on our digital capabilities and incorporating an agile approach across the organization to deliver experience-driven solutions to our customers faster than ever. What we’ve accomplished: What’s to come: The launch of our redesigne
Slide 11: Leveraging Our Competitive Advantage in Money Movement
Leveraging Our Competitive Advantage in Money Movement What we’ve accomplished: Invested in the connected commerce platform Poynt Broadened our merchant processing capabilities with the acquisition of ETS What’s to come: Deepening our vertical expertise and expanding our omni-commerce and integrated
Slide 12: Positioned for Growth in 2019 and Beyond
Positioned for Growth in 2019 and Beyond Increased revenue Greater efficiency Improved profitability Growth and returns We remain focused on the future – strategically investing, innovating and optimizing everything we do, all with the goal of better serving our customers and driving efficiency. Imp
Slide 13: Guidance
Guidance Long-term profitability targets 4Q18 guidance update Net interest income Noninterest income Operating leverage Credit quality Full-year 2017 return on average common equity excludes notable items * Non-GAAP, see slide 17 for calculation Source: company reports; peers include: BAC, BBT, FITB
Slide 14: Appendix
Appendix
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures Interest and rates are presented on a fully taxable-equivalent basis based on a federal income tax rate of 21 percent
Slide 17: Non-GAAP Financial Measures
Non-GAAP Financial Measures (1) Notable items include: $910 million reduction in income tax expense due to tax reform legislation, $608 million legal and regulatory accrual, $105 million (after-tax) contribution to the U.S. Bank Foundation and $47 million (after-tax) one-time bonus to certain eligib
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