U.s. Bancorp · NYSE:USB

U.s. Bancorp — Corporate Update (March 2009)

8 slides from U.s. Bancorp's corporate update, Mar 4, 2009

  1. Slide 1: Dividend Announcement and Business Update March 4, 2009

    Dividend Announcement and Business Update March 4, 2009

  2. 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 press release contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements about beliefs a

  3. Slide 3: Overview

    5 Overview Current financial market and economic conditions warrant proactive move to preserve capital Significant economic uncertainty continues Capital adequacy concerns persist for the industry, despite strong Tier 1 capital levels Regulatory guidance and requirements are being modified in respon

  4. Slide 4: Capital Position

    7 Capital Position Source: SNL; Peer banks: BAC, BBT, FITB, JPM, KEY, PNC, RF, STI, USB and WFC Tangible common equity (TCE) defined as common stockholders equity less goodwill and other intangible assets (excluding MSRs) USB Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 ROTE 0.24 0

  5. Slide 5: Quarterly dividend reduced to $0.05 ($0.20 annualized)

    Dividend Announcement Quarterly dividend reduced to $0.05 ($0.20 annualized) March 31, 2009 record date April 15, 2009 payable date Initial dividend yield of 1.6% based on 3/03/09 stock price of $12.58 Preserves over $2.6 billion of capital on an annualized basis

  6. Slide 6: First Quarter 2009 Update

    11 First Quarter 2009 Update First quarter core operating trends are strong with solid growth in loans and deposits as the "flight to quality" continues Securities valuations to be determined at quarter end 1Q09 credit projections consistent with prior management communications Downey Financial and

  7. Slide 7: Summary

    13 Summary Dividend reduction is a prudent response U.S. Bancorp operating from a position of strength Least dilutive and most economical means of raising capital Strong core operating earnings enable the Company to generate capital at a faster rate than peers Accelerates ability to repay TARP capit

  8. Slide 8: Dividend Announcement and Business Update March 4, 2009

    Dividend Announcement and Business Update March 4, 2009

US Bancorp \de\ — Corporate Update (March 2009) on 6ix