U.s. Bancorp · NYSE:USB
U.s. Bancorp — Merger or Acquisition (November 2010)
9 slides from U.s. Bancorp's merger presentation, Nov 15, 2010
Slide 1: Acquisition of Bank of America's Securitization Trust Administration Business
Acquisition of Bank of America's Securitization Trust Administration Business November 15, 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: Transaction Summary
Transaction Summary Acquisition of Bank of America's U.S and European CDO, CMBS, RMBS and ABS Securitization Trust Administration Business Solidifies U.S. Bank as a top tier provider of corporate trust services Adds revenues of more than $100 million and deposits of more than $10 billion Purchase ag
Slide 4: Strategic Rationale
Strategic Rationale Opportunity to increase U.S. structured finance trust business pro-forma ranking to #1 with market share increasing from 18.1% to 30.0% (1/1/05 through 10/27/10) Strong complement to existing U.S. Bank Corporate Trust business Cost take-outs result from leveraging existing platfo
Slide 5: Enhances Current Market Position
Enhances Current Market Position Acquisition improves U.S. Bank's market position within the U.S. structured finance trust business Complements U.S. Bank's current market position in U.S. corporate and municipal trust business
Slide 6: Added Scale
Added Scale U.S. Bank Bank of America Combined Client Issuances 112,797 2,153 114,950 Assets under Administration $2.9 trillion $1.1 trillion $4.0 trillion Deposits $24.0 billion $10.5 billion $34.5 billion Document Custody Files 6.0 million files 2.5 million files 8.5 million files U.S. Office Loca
Slide 7: U.S. Bank Corporate Trust Services Revenue
U.S. Bank Corporate Trust Services 1 2 4 5 Revenue 54.06 37.14 5 4 Trustee Paying Agent Escrow Agent Document Custody 2011 revenue forecast Revenue by Business Segment Successful Growth Through Acquisition Municipal, Corporate & Escrow 54% Structured 37% Document Custody Services 5% Default 4% Bank
Slide 8: Role of the Trustee in MBS
Role of the Trustee in MBS What is a mortgage backed security? A mortgage backed security is a security on which the payments are derived from the cash flow generated by a pool of mortgages The Servicer collects payments on the loans and sends the funds to the Trustee The Trustee then distributes th
Slide 9: Transaction Timeline
Transaction Timeline November 2010 Announce Acquisition December 2010 Acquisition Close 3Q 2011 Acquisition Conversion Conversion schedule designed to: Maximize customer retention Build on integration experience and successful execution of 18 trust business transactions over the past 20 years
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