U.s. Bancorp · NYSE:USB
U.s. Bancorp — Merger or Acquisition (November 2008)
13 slides from U.s. Bancorp's merger presentation, Nov 26, 2008
Slide 1: U.S. Bank Acquires Downey Savings & Loan and PFF Bank & Trust in FDIC Assisted Transaction
U.S. Bank Acquires Downey Savings & Loan PFF Bank & Trust in FDIC Assisted Transaction November 21, 2008
Slide 2: Forward-looking Statements
3 Forward-looking Statements The following information appears in accordance with the Private Securities Litigation Reform Act of 1995: This presentation contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs an
Slide 3: Transaction Rationale
5 Transaction Rationale Expands depth and breadth of distribution system in one of the faster growing regions in the U.S. $12.1 billion deposits and 213 branches in California and Arizona 6.9% projected population growth in Downey footprint and 12.6% in PFF footprint versus 6.3% U.S. average #4 pro
Slide 4: Overview - Downey Savings & Loan
7 Overview - Downey Savings & Loan Source: SNL DSL Branches USB Branches $12.8 billion in assets; $9.7 billion in deposits 170 branches in California and 5 branches in Arizona; 85 traditional / 90 in-store Deposit base is comprised of 10% savings and money market accounts, 12% NIB and NOW accounts a
Slide 5: Overview - PFF Bank & Trust
9 Overview - PFF Bank & Trust Source: SNL PFFB Branches USB Branches $3.7 billion in assets; $2.4 billion in deposits 38 branches in four counties in Southern California Deposit base is comprised of 30% savings and money market accounts, 18% NIB and NOW accounts and 52% time deposits (primarily reta
Slide 6: Expands Distribution Network in Growth Markets
11 Expands Distribution Network in Growth Markets U.S. CA Downey PFF Growth 0.063 0.068 0.069 0.126 Source: SNL Weighted average Projected Population Change by Franchise 2008 - 2013 DSL Branches USB Branches PFFB Branches
Slide 7: Expands Depth and Breadth of Distribution Network
13 Expands Depth and Breadth of Distribution Network Deposits in millions as of 6/30/08 Source: SNL MSAs
Slide 8: Fourth Largest Branch Network in California
15 CA Total Branches* CA Total Market Share By Deposits* Fourth Largest Branch Network in California Dramatically Improves Position in California Source: SNL * Deposit data as of 6/30/08, branch data as of 11/20/08, pro forma for pending deals, excluding non retail branches and deposits Market Total
Slide 9: Transaction Overview
17 Transaction Overview Transaction: Terms: Approvals: Status: FDIC assisted U.S. Bank received certain assets and certain liabilities of: Downey Savings and Loan Association, F.A. Newport Beach, CA PFF Bank and Trust Rancho Cucamonga, CA No holding company assets acquired No cash consideration Earn
Slide 10: Impact of Loss Sharing Agreement
19 Impact of Loss Sharing Agreement $ in billions
Slide 11: Loan Modification Program
21 Loan Modification Program Participation in FDIC loan modification program Single-family residential mortgages Objective to achieve a monthly payment equal to 31% debt-to- income ratio Potential impact to approximately 35,000 homeowners Loss sharing with FDIC includes yield protection on modified
Slide 12: Summary
23 Summary Expands the depth and breadth of our distribution system in one of the faster growing regions within our footprint Excellent branch locations, including in-stores with current grocery store partners - Ralphs & Albertson's Opportunity for building deeper relationships by offering approxima
Slide 13: U.S. Bank Acquires Downey Savings & Loan and PFF Bank & Trust in FDIC Assisted Transaction
U.S. Bank Acquires Downey Savings & Loan PFF Bank & Trust in FDIC Assisted Transaction November 21, 2008
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