U.s. Bancorp · NYSE:USB
U.s. Bancorp — Merger or Acquisition (November 2009)
11 slides from U.s. Bancorp's merger presentation, Nov 2, 2009
Slide 1: U.S. Bank Acquires Banking Subsidiaries of FBOP Corporation in FDIC Assisted Transaction
U.S. Bank Acquires Banking Subsidiaries of FBOP Corporation in FDIC Assisted Transaction October 30, 2009
Slide 2: Forward-looking Statements and Additional Information
2 Forward-looking Statements and Additional Information 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
Slide 3: Transaction Overview
3 Transaction Overview Transaction: FDIC assisted whole bank purchase and assumption transaction with loss share U.S. Bank received certain assets and certain liabilities from the FDIC as receiver of the banking subsidiaries of FBOP Corporation of Oak Park, IL Transaction includes FBOP Corporation's
Slide 4: Transaction Overview: Terms, Approvals, Status
4 Transaction Overview Terms: Approvals: Status: Purchased $18.4 billion of assets, including $13.8 billion of loans Assumed $15.4 billion of deposits Received estimated $0.5 billion cash consideration from FDIC Substantially all loans subject to a loss sharing agreement with FDIC All approvals rece
Slide 5: Transaction Rationale
5 Transaction Rationale Expands depth of distribution system in high growth markets $10.0 billion in deposits and 113 branches in California $3.5 billion in deposits and 32 branches in Illinois $0.5 billion in deposits and 3 branches in Texas $0.3 billion in deposits and 2 branches in Arizona FDIC l
Slide 6: California and Arizona
6 California and Arizona Source: SNL, Deposits in millions as of 6/30/09 Four banks - California National Bank, San Diego National Bank, Pacific National Bank and BankUSA Expands depth of distribution network in California markets $10.0 billion in deposits as of 6/30/09 113 branches Opportunity for
Slide 7: Illinois
7 Illinois Source: SNL, Deposits in millions as of 6/30/09 Two banks - Park National Bank and Community Bank of Lemont Expands depth of distribution network in Chicago market $3.5 billion in deposits as of 6/30/09 32 branches Opportunity for selective branch consolidations U.S. Bancorp Banking Subsi
Slide 8: Transaction Details
8 Transaction Details Whole bank purchase and assumption transaction with individual loss share agreements for each of the nine acquired banks Total loss share and thresholds: Substantially all loans covered FDIC assumes 80% of the first $3.5 billon of losses FDIC assumes 95% of losses above $3.5 bi
Slide 9: Transaction Structure
Transaction Structure LJ $ in billions Loans Acquired $13.8 80% Commercial Real Estate Other Assets 4.6 Cash and Other Total Assets Acquired 18.4 Deposits Assumed 15.4 26% Savings and Money Market, 8% NIB and NOW and 66% Time Other Liabilities 2.9 Borrowings and Other Net Acquired Assets 01 Cash Rec
Slide 10: Summary
10 Summary Low risk, in-market transaction Expands the depth of our distribution system in high growth markets Opportunity for building deeper relationships by offering approximately 500,000 new loan and deposit customers a broader array of products and services Minimal impact on capital Financially
Slide 11: U.S. Bank Acquires in FDIC Assisted Transaction
U.S. Bank Acquires Banking Subsidiaries of FBOP Corporation in FDIC Assisted Transaction
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