U.s. Bancorp · NYSE:USB
U.s. Bancorp — Goldman Sachs U.S. Financial Services Conference 2019
19 slides from U.s. Bancorp's conference presentation, Dec 11, 2019
Slide 1: Goldman Sachs U.S. Financial Services Conference 2019
Goldman Sachs U.S. Financial Services Conference 2019 December 11, 2019 Andy Cecere Chairman, President and Chief Executive Officer Terry Dolan Vice Chair and Chief Financial Officer Exhibit 99.1
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: Today’s presentation contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including
Slide 3: U.S. Bancorp
U.S. Bancorp As of 9/30/19, except market value as of 12/5/19 NYSE TradedUSB Founded 1863 Market Value $93B Assets $488B Deposits $360B Loans $295B
Slide 4: Our Advantaged Position
Our Advantaged Position Source: company reports and Bloomberg Assets and deposits as of 9/30/19, market value as of 12/5/19 Assets Deposits Market Value Assets Deposits Market Value U.S. U.S. U.S. Rank Company $ in billions Rank Company $ in billions Rank Company $ in billions 1 J.P. Morgan $2,765 1
Slide 5: Our Businesses
Our Businesses Consumer & Business Banking, 40% Branch banking, small business banking, consumer lending, mortgage banking and omnichannel delivery Payment Services, 29% Retail payment solutions, global merchant acquiring and corporate payment systems Corporate & Commercial Banking, 17% Corporate ba
Slide 6: Our Financial Performance
Our Financial Performance Return on Average Common Equity Return on Average Assets Efficiency Ratio 3Q19 Source: company reports; peers include: BAC, BBT, FITB, JPM, KEY, PNC, RF, STI and WFC * Non-GAAP, see slide 19 for calculation
Slide 7: We are starting from a position of strength
We are starting from a position of strength The core competencies and competitive advantages that made us great in the past remain in place The world is changing, and we are transforming how we do business and investing for the future Where We Are Today
Slide 8: Our Key Priorities
Our Key Priorities 1. Digital 2. Leveraging our payments ecosystem 3. Optimization
Slide 9: Digital: Driving Revenue and Efficiency
Digital: Driving Revenue and Efficiency Amazing digital experiences provide us more opportunities to add value and to monetize interactions over 70% of our consumer customers use digital channels the digital “door” is always open * Note: total # of unique branch visits as shown is estimated based on
Slide 10: Digital: Our Accomplishments and Focus
Digital: Our Accomplishments and Focus What we’ve accomplished: What’s to come: Increasing the pace of delivery of new and improved digital products and experiences - Building, buying and collaborating to further expand our capabilities - Leveraging data to drive personalization and smarter decision
Slide 11: Payments Ecosystem: Delivering Value Through Integration
Payments Ecosystem: Delivering Value Through Integration Technology Data U.S. Bank advantage Card issuing Merchant processing AR and AP solutions Omni-commerce capabilities Lending Deposits Capital solutions Cash management Investment services Banking customers Technology Data Banking products Banki
Slide 12: Payments Ecosystem: Our Accomplishments and Focus
Payments Ecosystem: Our Accomplishments and Focus What we’ve accomplished: What’s to come: Realizing benefits from our investments in integrated payments and omni-commerce Continued innovation in the B2B and B2C spaces, building on the real-time rails Increasing our focus on connecting card issuing,
Slide 13: Optimizing to Reinvest
Optimizing to Reinvest We manage for the long term, but won’t lose sight of the short term Physical assets Technology and risk Business mix Structure Money movement New markets Digital Capabilities Optimization Investment
Slide 14: Optimization: Our Accomplishments and Focus
Optimization: Our Accomplishments and Focus What we’ve accomplished: What’s to come: Optimized monetary, physical and human capital - Announced plan for incremental share buybacks and raised dividend payout target to 35-45% (maintaining total payout target of 70-80%) - Accelerated physical asset opt
Slide 15: In Summary
In Summary We are starting from a position of strength The world is changing, and we are investing to be competitive over the long term We made significant progress on our key priorities in 2019, and we will keep up the momentum in 2020 and beyond We are focused on: Driving digital availability and
Slide 16: 4Q19 Guidance Update
4Q19 Guidance Update Net interest income Noninterest income Operating leverage Tax rate Credit quality
Slide 17: Appendix
Appendix
Slide 18: Non-GAAP Financial Measures
Non-GAAP Financial Measures
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures (1) Interest and rates are presented on a fully taxable-equivalent basis based on a federal income tax rate of 21 percent
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