U.s. Bancorp · NYSE:USB
U.s. Bancorp — BancAnalysts Association of Boston Conference 2014
32 slides from U.s. Bancorp's conference presentation, Nov 6, 2014
Slide 1: Extending the Advantage
Exhibit 99.1 Exhibit BancAnalysts EXTENDING Andrew Vice November 1 Chairman, 99.1 Cecere 6, 2014 Association THE Chief ADVANTAGE Financial of Boston Officer Conference
Slide 2: Forward-looking Statements
EXTENDING Forward-looking The are expenses anticipated. markets increased in adversely deterioration preferences; residual For Form “Risk of This should 2 asset 1934. based discussion following presentation 10-K Factors” not values. could value Forward-looking and on market affected be for Abreaches
Slide 3: Financial Overview Agenda
EXTENDING Financial Overview Agenda Capital Deposit 4Q14 Long-term 3 Update Management Growth Management Goals THE ADVANTAGE
Slide 4: U.S. Bancorp Dimensions
* EXTENDING U.S. 3Q14 Asset Deposits Loans Customers NYSE Market Founded Bank ATMs 4 Bancorp Branches Dimensions Size $246 5,026 Traded Capitalization* As 1863 $273 $391 17.9 of billion Dimensions 10/31/14 USB billion THE 3,177 million billion ADVANTAGE $76 billion
Slide 5: Industry Positions
1 EXTENDING Industry Assets U.S. Rank 2 3 U.S. Company Deposits J.P. Positions U.S. Bank Morgan THE of Citigroup$Market Billions ADVANTAGE $2,527 America Value Rank 1U.S. 2,124J.P.2Company Morgan Wells $1,335 $273 FargoBillions 1,13113 Wells 2Rank J.P.Fargo Company 76$277 Morgan $180 227 Billions 4
Slide 6: Financial Overview
EXTENDING Financial Overview Agenda Capital Deposit 4Q14 Long-term 6 Update Management Growth Management Goals THE ADVANTAGE
Slide 7: Diversified Revenue Mix
EXTENDING Diversified Revenue By Payment Wealth 30% Securities Wholesale 10% Banking Commercial Real Fee 18% 46% 50% 2010 35% 40% 45% 55% 3Q14 Corporate 7 Business Income Estate 46% 45% 2011 YTD, Mgmt and Mix Services 46% Services Support, 2012 Consumer Business 42% /taxable-equivalent Banking Line
Slide 8: U.S. Bancorp Peer Banks
EXTENDING U.S. J.P. KeyCorp Wells Fifth Bank Peer Regions SunTrust BAC BBT FITB JPM KEY 8 Morgan Banks Bank Bancorp J.P. Third BB&T KeyCorp Bank of Fifth Fargo America Morgan PNC Ticker Third BBT ofRF America THE WFC Regions STI USB Symbols ADVANTAGE Wells SunTrust U.S. PNCFargo Bancorp PNC
Slide 9: Industry-Leading Returns 3Q14
EXTENDING Industry 1.25% 1.40% 3Q14 1.09% 0.91% 0.03% 9.7% 10.5% 13.1% 14.5% 7.9% NA 57.8% 70.5% 94.0% Return Full 1.51% 1.65% 1.02% 1.38% 0.78% 0.53% 13.9% 15.8% 8.9% 10.9% 7.2% 4.6% 67.0% 78.2% 57.7% USB 52.4% Source: Efficiency 9 Year Peer 9.6% 7.5% 8.4% 6.4% 1.25% 1.02% 0.90% 60.6% 1.48% 0.95% 0
Slide 10: Efficient Business Model
EXTENDING Efficient 2013 71.8% 78.2% 67.0% 60.5% 57.7% USB 52.4% Source Single Full Operating Source: Efficiency 10 consolidation Peer Efficiency processing 72.9% 68.5% 60.9% 58.5% of SNL Expense Competitive 1scale ratio Peer and THE computed in Ratio 2company platforms Platform of all Peer ADVANTAG
Slide 11: Loan Growth
EXTENDING Loan 12.2% $220,000 227,474 2009 $100,000 $140,000 $180,000 185,805 193,022 201,427 Prior Average Year-Over-Year 5.7% $245,000 $260,000 3Q13 $200,000 $215,000 $230,000 229,362 232,791 235,859 240,480 $ 11in millions 52010 Growth 5.7% 4Q13 3.9% Years Quarters Balances 215,374 243,867 2011 6
Slide 12: Revenue Growth
* EXTENDING Revenue 13.6% 2009 $10,000 $13,000 $16,000 16,668 18,148 $19,000 19,108 19,602 20,288 $22,000 Prior Year-Over-Year (5.6%) 214* 5,188 $5,500 $5,000 4,814 3Q13 $3,500 $4,000 $4,500 $ 12in millions, 54,990 2010 4Q13 4,974 8.9% Years (4.4%) Quarters 4,891 Gain Growth 2011 1Q14 5.3% 4,889 tax
Slide 13: Credit Quality
EXTENDING Credit $520 $390 341 $260 312 328 $130 $0 3Q13 Net Reserve (Prior 16.0% 19.6% 30.0% 31.3% 45.0% 50.7% 60.0% 6.1% 8.0% 9.8% 15.0% USB 0.0% 2.1% $ Source: 13in0.00% Charge-offs 349 millions Peer 3.00% 2.25% 1.50% 0.57% 6.8% 4Q13 5Quality 16.7% company quarters) Release 336 1 1Q14 Peer 0.53%
Slide 14: Top Peer Debt Ratings
EXTENDING Top Peer Moody’s Rating USB WFC BBT JPM PNC FITB BAC KEY STI RF op=outlook on=outlook s=outlook wn=watch wp=watch Debt Flight Advantages Funding 14 Ba1 Baa1 of Debt A3 A2 A1 A3 ratings: Baa1 Baa2 A2 Baa1 to Class Outlook op sadvantage squality S&P ssA A- A+ Ratings stable A+ negative posit
Slide 15: Capital Management
EXTENDING Financial Overview Agenda Capital Deposit 4Q14 Long-term 15 Update Management Growth Management Goals THE ADVANTAGE
Slide 16: D-SIFI Capital Requirement
* EXTENDING 8.0% 9.0%* 0.5% D-SIFI 2.5% Capital 4.5% Minimum Buffer Common Requirement Basel Earnings Reinvest Acquisitions 20—40% Hypothetical Dividends Share Discretionary 16 Volatility Potential Conservation Capital III Repurchases Buffer Management Requirement Based Target and Distribution Equit
Slide 17: Capital Distributions
EXTENDING Capital Quarterly One-year Payout 75% 100% 50% 62% 25% 32% 35% 2010 0% 11% 20% Dividends 17 27% 71% 42% 12% 2011 Ratio Distributions authorization dividend 29% 74% 43% Share 2012THE 31% 2013 Repurchases increased ADVANTAGE 3Q14 to repurchase YTD 6.5% to up $0.245 to $2.3 perbillion share o
Slide 18: Prudent Collective Acquisitions and Divestitures
EXTENDING Prudent Collective Payments FSV TransCard’s Financial Card National Credit Merchant Joint Spain Brazil Divestiture Divestitures Payment Wealth Securities Wholesale Commercial Real Consumer Chicago Banking BB&T’s First Downey Trust Document U.S. AIS Institutional Indiana Bank Corporate Mutu
Slide 19: Deposit Growth
EXTENDING Financial Overview Agenda Capital 4Q14 Long-term 19 Update Management Management Goals THE ADVANTAGE Deposit Growth
Slide 20: Branch Distribution 3Q14
EXTENDING Branch #4 #1 3Q14 Metro Community In-Store 3,177 5,026 Source: 20 branch in-store Branches U.S. traditional Distribution SNL and network Bank and traditional On-Site THE on-site branch branded offices inADVANTAGE offices U.S. branch offices offices ATMs withnetwork 25 contiguous state dist
Slide 21: Increasing USB Mobile Banking Customers
EXTENDING 2.7 Increasing USB 3.0 4.0 2.0 2.2 Millions 2010 0.0 0.2 1.0 Mobile Innovation Richard U.S. 21 million 2.7 1.7 Bank Active 2011 Banking is Banker Davis 1.4 now ties ranked presented named customer 2012 Award active Mobile named THE the for Scorecard 2013 customers “Mobile #2 top second ADV
Slide 22: Deposit Growth
EXTENDING Deposit Prior Average Year-Over-Year 5.5% $265,000 271,008 $280,000 256,906 3Q13 $220,000 $235,000 $250,000 252,368 $ Increased Flight Top Targeted Chicago-area Corporate 22in millions 555.4% of4Q13 market to class Quarters Growth 257,479 Balances quality acquisitions 262,351 market Trust
Slide 23: Net Interest Income Sensitivity
EXTENDING Net Sensitivity 2.00% 2.50% 1.45% 1.00% 1.50% 1.12% 3Q13 0.50% Up Deposit Average Change Noninterest-bearing Time Total The Two 23 50 Interest Company important Savings Deposits 44.0 4Q13 bps 1.75% 1.53% 1.21% 1.07% Growth Deposits 41.6 Immediate ofIncome 1Q14 Net 1.72% 1.31% 85.4 uses run
Slide 24: 4Q14 Business Update
EXTENDING Financial Overview Agenda Capital Deposit 4Q14 Long-term 24 Update Management Growth Management Goals THE ADVANTAGE
Slide 25: 4Q14 Business Update
EXTENDING 4Q14 Business Loan Interest Credit Noninterest 25 Growth Update Quality Margin Climate Income Net THE ADVANTAGE / Expense
Slide 26: Long-term Goals
EXTENDING Financial Overview Agenda Capital Deposit 4Q14 Long-term 26 Update Management Growth Management Goals THE ADVANTAGE
Slide 27: Long-term Optimal Profitability Goals
EXTENDING Long-term Optimal Investments Profitability: Capital Earnings Current Four Mortgage, ROE ROA Efficiency 3Q14 Distributed (dividends 27 simple 16-19% 14.7% 1.60-1.90% 1.56% YTD distributions: Status business distribution wealth Ratio 31%, Goals Profitability: Capital 74% and generating THE
Slide 28: Appendix
EXTENDING THE ADVANTAGE 28 Appendix
Slide 29: Non-GAAP Financial Measures
(2) EXTENDING Non-GAAP $ Total Goodwill Intangible Tangible Adjustments Common implemented regulatory Preferred Noncontrolling Tier (1) (3)inIncludes (4) (5) 29 millions 1equity capital, common Includes common stock equity (net assets, requirements Beginning Financial $goodw (2) 3Q14 standardized 43
Slide 30: Non-GAAP Financial Measures
EXTENDING Non-GAAP $ Total Goodwill Intangible regulatory standardized transitional Adjustments Risk-weighted advanced Ratios Tangible Tier Common Basel (1) accumulated (3) (4) mortgage 30inIncludes Beginning millions 1assets III common fully assets common equity approaches servicing (net assets, re
Slide 31: Non-GAAP Financial Measures
EXTENDING Non-GAAP Line Revenue Less Consolidated Treasury Percent Wholesale Consumer Wealth Payment Total $ 31in millions, Treasury of 100% Management Business ofServices and Total and Banking Financial Corporate Company taxable-equivalent and THE Small excluding Financial 3,720 25% 30% Corporate a
Slide 32: BancAnalysts Association of Boston Conference
BancAnalysts EXTENDING November 32 6, 2014 Association THE ADVANTAGE of Boston Conference
US Bancorp \de\ — BancAnalysts Association of Boston Conference 2014 on 6ix