U.S. Bancorp Fact Sheet
July 24, 2009
In this period of unprecedented uncertainty, U.S. Bancorp continues to operate profitably, increase lending, maintain its strong balance sheet and adhere to its disciplined approach to risk management. Customers seeking a financial partner with strong capital and the ability to provide value-added products and services will find U.S. Bancorp ready.
U.S. Bancorp repays TARP funds, repurchases warrant from U.S. Treasury
U.S. Bancorp announced June 17 that is had redeemed the $6.6 billion of preferred stock issues to the Treasury under the Capital Purchase Program of the Emergency Economic Stabilization Act of 2008 — the so-called TARP funds. Further, U.S. Bancorp announced on July 15, 2009, that it completed the repurchase of a warrant held by the U.S. Treasury Department. The 10-year warrant was issued on November 14, 2008, as part of the company’s participation in the U.S. Treasury’s Capital Purchase Program. This effectively concludes U.S. Bancorp’s participation in the Capital Purchase Program. U.S. Bancorp entered into the Capital Purchase Program to support the efforts of the U.S. Treasury Department to stimulate the economy and increase the flow of credit to both consumers and businesses across the country. U.S. Bancorp’s ability to move beyond the government program is a sign of financial capacity and capital strength — and a real step forward for this company and our customers. We look forward to continuing to support our customers and communities from a position of strength and independence.
USB Capital Position
2Q09 USB “WellCapitalized” Requirements
2009 Second Quarter Statistics
Ranking Asset size Deposits U.S. Bank is 6th largest U.S. commercial bank $266 billion $164 billion $182 billion 15.8 million Global National
Tier 1 Capital Ratio Total Risk-based Capital Ratio Leverage Ratio Tier 1 Common Equity Ratio Tangible Common Equity Ratio
9.4% 13.0% 8.4% 6.7% 5.1%
6.0% 10.0% 5.0% 5.0%
Loans Customers Payment services and merchant processing Wholesale banking and trust services Consumer and business banking and wealth management Bank branches ATMs NYSE symbol
At quarter-end, June 30, 2009
Recent News Briefs from USB
• U.S. Bancorp to open a new capital markets and corporate banking office in Charlotte, will create additional 30 – 35 new jobs in city.
May 22, 2009
24 states 2,850 5,173 USB
• U.S. Bank offers new interestbearing checking account with extra free benefits to members of the U.S. Armed Forces.
May 22, 2009
• U.S. Bank acquires seven branches and $225 million of deposits of First Bank of Idaho through an FDICfacilitated transaction.
April 24, 2009
Diversified Revenue Mix
Revenue by business line 2Q09 YTD
25%
What Others Say About USB
U.S. Bancorp has been named the “Best Bank in the U.S.” by Euromoney, the world’s leading financial markets magazine, as part of its 2009 Awards for Excellence.
July 8, 2009
45% 20% 10%
U.S. Bank At A Glance
Industry-leading performance Diversified mix of businesses Significant loan and deposit growth Industry-leading capital generation Strong capital position Prudent risk management Ongoing investment in new products and services • Focus on customer service • • • • • • •
“...U.S. Bancorp now stands out from its rivals with some of the highest credit ratings in the industry.”
American Banker, April 22, 2009
• Payment Services • Wholesale Banking • Wealth Management
& Securities Services
• Consumer Banking
U.S. Bancorp one of “America’s Most Reputable Companies” by the The Reputation Institute.
Forbes, April 2009
U.S. Bancorp Business Scope
Regional
Consumer & Business Banking & Wealth Management
Long Term Issuer Credit Rating Definitions
S&P Moody’s Fitch DBRS
Holding Company – Long Term/Senior Debt Ratings: Peer Group
S&P Ratings as of 7/22/09 Moody’s Fitch DBRS
AAA AA+ AA AAA+ A ABBB+ BBB BBBBB+ BB BBB+ B BCCC+ CCC CCCCC C D
Aaa Aa1 Aa2 Aa3 A1 A2 A3 Baa1 Baa2 Baa3 Ba1 Ba2 Ba3 B1 B2 B3 Caa1 Caa2 Caa3 Ca C
AAA AA+ AA AAA+ A ABBB+ BBB BBBBB+ BB BBB+ B BCCC+ CCC CCCCC C DDD DD D
AAA AAH AA AAL AH A AL BBBH BBB BBBL BBH BB BBL BH B BL CCCH CCC CCCL CCH CC CCL CH C CL D
1 2 3 4 5 6 7 8 9 10
U.S. Bancorp JP Morgan Chase & Co. Wells Fargo & Co. BB&T Corp. Bank of America Corp. PNC Financial Services Group Keycorp Suntrust Banks, Inc. Fifth Third Bancorp Regions Financial Corp.
A+ A+ *AA- *A A A BBB+ *BBB+ *BBB *BBB+ *-
Aa3 *Aa3 *A1 A1 *A2 A3 *Baa1 *Baa1 *Baa1 *Baa3 *-
AAAAAAA+ *A+ A+ A- *A- *A- *A- *-
AA AH AA *AAL A AH *A *A *A *A *-
National
Wholesale Banking & Trust Services
Holding Company – Long Term/Senior Debt Ratings: Others
S&P Ratings as of 7/22/09 Moody’s Fitch DBRS
Global
Payments
1 2 3 4 5 6 7 8 9
Bank of New York Co., Inc Northern Trust Corp. State Street Corp Citigroup Comerica Inc. M&T Bank Corp. Huntington Bancshares, Inc. Marshall & Ilsley Corp. Zions Bancorp
AAAAA+ *A A- *A- *BB+ *BBB- *BBB- *-
Aa2 A1 A1 *A3 A2 *A3 *Baa2 *A3 *B2 *-
AAAA- *A+ A+ A *A- *BBB *BBB+ *BBB *-
AAL N/A AAL *A A *AL *BBBH *AL *BBBL *-
Investment grade Below investment grade
Bank Level – Long Term/Senior Debt Ratings: Peer Group
S&P Ratings as of 7/22/09 Moody’s Fitch DBRS
U.S. Bancorp Ratings
S&P Moody’s Fitch DBRS = = = = A+ Aa3 AAAA
The senior unsecured debt ratings established for U.S. Bancorp by Moody’s, Standard and Poor’s, Fitch, and Dominion Bond Rating Service reflect the rating agencies’ recognition of the strong, consistent financial performance of the company and the quality of the balance sheet.
1 2 3 4 5 6 7 8 9 10
US Bank NA JP Morgan Chase Wells Fargo Bank NA BB&T Bank Bank of America PNC Bank (PA) Keybank NA (OH) SunTrust Bank Fifth Third Bank Regions Bank
AAAA- *AA *A+ A+ A+ A- *A- *BBB+ *A- *-
Aa1 *Aa1 *Aa2 Aa2 *Aa3 A1 *A2 *A2 *A2 *Baa1 *-
AAAAAAA+ *A+ A+ A- *A- *A- *A- *-
AAH AAL AAH *AA AH AAL *AH *AH *AH *AH *-
Bank Level – Long Term/Senior Debt Ratings: Others
S&P Ratings as of 7/22/09 Moody’s Fitch DBRS
1 2 3 4 5 6 7 8 9
Bank of New York State Street Northern Trust Co Citibank NA Comerica Bank M&T Marshall & Ilsley Huntington National Bank Zions
AA AA- *AA A+ A *A *BBB *BBB- *BBB *-
Aaa Aa2 *Aa3 A1 A1 A2 *A2 *Baa1 *Ba3 *-
AAA+ AA- *A+ A *A- *BBB+ *BBB+ *BBB *-
AA AA *N/A AH AH *A *A *AL *BBB *-
*- indicates negative watch or outlook *+ indicates positive watch or outlook Accurate as of July 22, 2009
Deposit Products offered by U.S. Bank NA, Member FDIC
U.S. Bancorp, including each of our subsidiaries, is an Equal Opportunity Employer and a Drug-Free Workplace.
usbank.com