U.s. Bancorp · NYSE:USB
U.s. Bancorp — RBC Capital Markets Global Financial Institutions Conference 2022
16 slides from U.s. Bancorp's conference presentation, Mar 9, 2022
Slide 1: RBC Capital Markets Global Financial Institutions Conference 2022
RBC Capital Markets Global Financial Institutions Conference 2022 Terry Dolan Vice Chair and Chief Financial Officer Tim Welsh Vice Chair, Consumer and Business Banking March 9, 2022 U.S. BANCORP
Slide 2: Forward-looking statements and additional information
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 st
Slide 3: U.S. Bancorp
U.S. Bancorp NYSE Traded USB Branches 2,230 Assets $573B Founded 1863 ATMs 4,059 Deposits $456B Market Value $82B Loans $312B As of 12/31/21, except market value as of 3/4/22 U.S. BANCORP | 3
Slide 4: Our position among our peers
Our position among our peers Assets Deposits Market Value 1 J.P. Morgan $3,744 1 J.P. Morgan $2,462 1 J.P. Morgan $397 2 Bank of America 3,169 2 Bank of America 2,064 2 Bank of America 330 3 Wells Fargo 1,948 3 Wells Fargo 1,482 3 Wells Fargo 186 4 U.S. Bancorp 573 4 PNC 457 4 U.S. Bancorp 82 5 PNC
Slide 5: Our differentiated business mix supports consistent growth
Our differentiated business mix supports consistent growth Consumer & Payment Business Banking Services 39% 28% Corporate & Wealth Management Commercial Banking & Investment Services 18% 15% Consumer & Business Banking Corporate & Commercial Banking Payment Services Wealth Management & Investment Se
Slide 6: Investments are paying off and remain a significant opportunity
Investments are paying off and remain a significant opportunity We are seeing growth materialize Organically, and through both alliances and acquisitions We have made As a result of these investments considerable investments in our digital and human We have created numerous best- in-class capabiliti
Slide 7: Growth is materializing through organic opportunities
Growth is materializing through organic opportunities Our Home Mortgage Growth Story Transforming the Branch Experience Our Human Touch Digital advancements are allowing us to optimize our distribution 2016 2022 ~800 MLOs* in 29 States Over 1,500 MLOs in 42 States Branch Count Digital Loan Sales (%
Slide 8: Expanding our State Farm alliance
Expanding our State Farm alliance 1Q 2020 Announcement of State Farm partnership 4Q 2020 U.S. Bank Deposit Products are Deposit growth is equivalent to one offered through State Farm large MSA** U.S. Bank locations 2Q 2021 State Farm agent locations U.S. Bank Card Products are Credit Card production
Slide 9: Business banking is a key focus and opportunity
Business banking is a key focus and opportunity Banking and payments* are poised to grow… …by creating value for current and future clients We are integrating our solutions, leveraging bento and talech, in a Business Banking** Payments** comprehensive ecosystem that helps customers run their busines
Slide 10: Union Bank creates new scale for our great capabilities
Union Bank creates new scale for our great capabilities New scale in great markets… …combined with USB Capabilities… …is financially compelling + Digital Credit Card Union Bank is adding: EPS Accretion*** Synergies realized 75% / 100% • #1 rated mobile bank** • Corporate Payment ~6% / ~8% >1 million
Slide 11: Our human + digital philosophy is paying off
Our human + digital philosophy is paying off Investments have created best-in class features… …as satisfaction continues to increase Co-Browse Ranked #1 for 96% Utilized over 2.9 million Best regional Mobile Check Satisfaction** times since 2Q of 2020 bank for 12 states Deposit Ranked by Cornerstone
Slide 12: The combination of human plus digital and payments and banking is powerful
The combination of human plus digital and bringing together payments and banking is extremely powerful; we are already seeing these investments pay off and will have benefits for years to come. U.S. BANCORP | 12
Slide 13: Union Bank acquisition update
Union Bank acquisition update Progress What’s Next ‒ Submitted our applications with the Fed and OCC in ‒ Targeting transaction closing in 1H22, subject to October of 2021 regulatory approval ‒ Established acquisition teams on both sides ‒ Finalizing integration and conversion plans across all busin
Slide 14: 1Q22 guidance update
1Q22 guidance update • Net interest income • Noninterest income • Expenses • Credit quality • Tax rate U.S. BANCORP | 14
Slide 15: Appendix
Appendix U.S. BANCORP | 15
Slide 16: Non-GAAP financial measures
Non-GAAP financial measures ($ in millions) Net Revenue Line of Business Financial Performance FY 2021 Corporate and Commercial Banking $ 3,935 Consumer and Business Banking 8,578 Wealth Management and Investment Services 3,223 Payment Services 6,008 Treasury and Corporate Support 1,083 Total Compan
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