U.s. Bancorp · NYSE:USB
U.s. Bancorp — Goldman Sachs U.S. Financial Services Conference 2010
15 slides from U.s. Bancorp's conference presentation, Dec 8, 2010
Slide 1: Goldman Sachs U.S. Financial Services Conference 2010
Richard K. Davis Chairman, President and CEO December 8, 2010 Goldman Sachs U.S. Financial Services Conference 2010
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: U.S. Bancorp Overview
U.S. Bancorp Overview Regional Consumer & Business Banking & Wealth Management International Payments National Wholesale Banking & Trust Services
Slide 4: U.S. Bancorp Overview
U.S. Bancorp Overview International Payments Regional Consumer & Business Banking & Wealth Management National Wholesale Banking & Trust Services 3Q10 Dimensions Asset Size $291 billion Deposits $187 billion Loans $195 billion Customers 17.2 million NYSE Traded USB Market Capitalization* $47 billion
Slide 5: U.S. Bancorp Overview
U.S. Bancorp Overview Consumer Wholesale PCTAM Payments Revenue 44 20 9 27 Consumer 44% WM&SS 9% Wholesale 20% Payments 27% Payment Services Retail Payment Solutions Corporate Payment Systems Global Merchant Acquiring Wealth Management & Securities Services Wealth Management Corporate Trust FAF Advi
Slide 6: Building on our Strengths...
Building on our Strengths... Expense Driven Conservative Credit Culture Efficient Operating Model Strong Capital Generation Fortress Balance Sheet Diversification of Risk Low Revenue Volatility Strong Defense (2001 - 2006)
Slide 7: Continuing to Invest...
Continuing to Invest... Flight-to-Quality Expense Driven Conservative Credit Culture Efficient Operating Model Strong Capital Generation Fortress Balance Sheet Diversification of Risk Low Revenue Volatility Conservative Credit Culture Efficient Operating Model Strong Capital Generation Fortress Bala
Slide 8: Achieving results...Growth
Achieving results...Growth 2007 Ending Loans $154 billion Commercial Commercial Real Estate Res Mtg and Home Equity Credit Card Other Retail Covered 2007 Commercial 51074 Commercial Real Estate 29207 Residential Mortgage and Home Equity 39223 Credit Card 10956 Other Retail 23367 Covered 0 33% 19% 26
Slide 9: Achieving results...Performance
Achieving results...Performance Maintained leading profitability throughout the cycle USB Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 ROA 0.0103 0.0096 0.0086 0.0075 0.0056 0.0015 USB Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 ROCE 0.114 0.094 0.087 0.071 0.063
Slide 10: Achieving results...Credit Quality
Achieving results...Credit Quality Peer Banks: BAC, BBT, FITB, JPM, KEY, PNC, RF, STI, USB and WFC NPA Ratio equals nonperforming assets as a % of the sum of gross loans and foreclosed assets USB NPA ratio excludes Covered Assets (subject to loss sharing agreements with FDIC) 2007 2008 2009 1Q10 2Q1
Slide 11: Positioned to Win
Positioned to Win Flight-to-Quality Expense Driven Organic Market Share Gain Conservative Credit Culture Efficient Operating Model Strong Capital Generation Fortress Balance Sheet Diversification of Risk Low Revenue Volatility Conservative Credit Culture Efficient Operating Model Strong Capital Gene
Slide 12: Long-term Goals
Long-term Goals Reducing credit and earnings volatility Providing high-quality customer experience Investing for future growth Realizing 8-10% normalized long-term EPS growth Total Revenue 7-8% Noninterest expense 4-5% Provision for credit losses 6-8% Net income 8-9% EPS 8-10% Normalized ROE 17-19%
Slide 13: Long-term Growth Drivers
Long-term Growth Drivers Return on recent and on-going investments in technology, corporate banking, wealth management, corporate trust, payments and M&A Positive leverage to economic recovery, particularly payments and trust Market share gains, including growth in loans and deposits as "flight to q
Slide 14: Positioned to Win
Positioned to Win USB is well-positioned to produce industry-leading performance with... a strong foundation, including excellent credit and risk management, a diversified business mix and prudent capital management a proven track record initiatives to build relevant, profitable scale in each of our
Slide 15: Goldman Sachs U.S. Financial Services Conference 2010
Richard K. Davis Chairman, President and CEO December 8, 2010 Goldman Sachs U.S. Financial Services Conference 2010
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