U.s. Bancorp · NYSE:USB
U.s. Bancorp — Goldman Sachs U.S. Financial Services Conference 2008
15 slides from U.s. Bancorp's conference presentation, Dec 11, 2008
Slide 1: Goldman Sachs U.S. Financial Services Conference 2008
Richard K. Davis Goldman Sachs U.S. Financial Services Conference 2008 Chairman, President and CEO December 11, 2008
Slide 2: Forward-looking Statements
3 Forward-looking Statements 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 statements about beliefs an
Slide 3: U.S. Bancorp Businesses
U.S. Bancorp Businesses Asset Size $247 billion Deposits $140 billion Loans $170 billion Customers 14.9 million NYSE Traded USB Market Capitalization* $49 billion Founded 1863 Bank Branches** 2,769 ATMs** 5,159 3Q08 Dimensions Regional Consumer and Business Banking Wealth Management National Wholesa
Slide 4: U.S. Bancorp - Positioned for Growth
Investing for Growth Deepening Customer Relationships Product Innovation Expanding Product and Distribution Maximize Shareholder Value Strong Core Financial Institution Core Products & Service Distinctive Capabilities U.S. Bancorp - Positioned for Growth Financial Performance Investing for Growth Sh
Slide 5: Financial Performance
9 Financial Performance 3Q08 YTD * Core fee income excludes $492 million VISA gain Peer banks: BAC, BBT, CMA, FITB, KEY, NCC, PNC, RF, STI, USB, WB and WFC Consumer Wholesale PCTAM Payments Treas & Corp Support Revenue 41 19 13 27 0 2004 2005 2006 2007 2008 YTD Fee Income 0.441 0.465 0.502 0.514 0.4
Slide 6: Financial Performance: Capital Ratios
11 Financial Performance 2004 2005 2006 2007 3Q08 3Q08 Tier 1 Capital Ratio 0.086 0.082 0.088 0.083 0.085 0.114 Total Risk-Based Capital Ratio 0.131 0.125 0.126 0.122 0.123 0.153 Tier 1 Capital Ratio Total Risk-Based Capital Ratio Pro-forma with TARP Profitability and prudent management = strong cap
Slide 7: Credit Quality
13 Credit Quality 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 Fcst Charge-off Ratio 0.0054 0.0059 0.0076 0.0098 0.0119 NCO High 0.0119 0.015 NCO Low 0.0119 0.014 NPA Ratio 0.0043 0.0045 0.0053 0.0068 0.0088 NPA High 0.0088 0.0118 NPA Low 0.0088 0.0114 USB Peer Banks USB 1.5 0 Low 0 1.24 Median 0 1.1 High 0 4.02 U
Slide 8: Credit Quality
15 Credit Quality Peer Banks: BAC, BBT, CMA, FITB, KEY, NCC, PNC, RF, STI, USB, WB and WFC USB Peer Banks USB 1.94 0 Low 0 0.53 Median 0 0.53 High 0 0.4 3Q08 Allowance / NPA's 146% 106% 53% 194% High Median Low Rank #1 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 Fcst USB 1 1 1.66 1.51 1.5 Low 1.5 1.9 High 1.5 2.1
Slide 9: Navigating the Current Environment
17 Navigating the Current Environment Opportunities Core businesses continue to perform: Continued growth in core operating income Strong growth in loans and deposits "Flight to quality" "Open for business" Favorable rate environment - yield curve/credit spreads Strong capital and liquidity position
Slide 10: U.S. Bancorp - Investing for Growth
Investing for Growth Deepening Customer Relationships Product Innovation Expanding Product and Distribution Maximize Shareholder Value Strong Core Financial Institution Core Products & Services Distinctive Capabilities U.S. Bancorp - Investing for Growth Financial Performance Investing for Growth Sh
Slide 11: Downey Savings & Loan / PFF Bank & Trust
21 Downey Savings & Loan / PFF Bank & Trust DSL Branches USB Branches PFFB Branches Expands the depth and breadth of our distribution system in one of the fastest growing regions within our footprint $17 billion in assets; $12 billion in deposits 208 branches in California and 5 branches in Arizona
Slide 12: Maximizing Shareholder Value
Investing for Growth Deepening Customer Relationships Product Innovation Expanding Product and Distribution Maximize Shareholder Value Strong Core Financial Institution Core Products & Service Distinctive Capabilities Maximizing Shareholder Value Financial Performance Investing for Growth Shareholde
Slide 13: Total Shareholder Return
Total Shareholder Return Source: FactSet Annualized returns 3 Year 5 Year 1 Year As of 12/9/08 U.S. Bancorp (9.9)% 2.4% 4.9% S&P 500 Commercial Bank Index (38.7)% (15.9)% (6.2)% S&P 500 Index (39.6)% (9.2)% (1.6)% Dividend Announcement 12/9/08 4Q08 Dividend = $0.425 Yield as of 12/9/08 = 6.0%
Slide 14: Consistent Predictable Repeatable U.S. Bancorp
Consistent Predictable Repeatable U.S. Bancorp
Slide 15: Goldman Sachs U.S. Financial Services Conference 2008
Richard K. Davis Goldman Sachs U.S. Financial Services Conference 2008 Chairman, President and CEO December 11, 2008
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