Industry Leading Performance Metrics

Full year 2006

USB Peer Median USB Rank
Return on Average Assets 2.23% 1.38% 1
Return on Average Common Equity 23.6% 15.1% 1
Efficiency Ratio 45.4% 58.6% 1
Tangible Efficiency Ratio 42.8% 57.3% 1

Peer Banks: BAC, BBT, CMA, FITB, KEY, NCC, PNC (excludes BlackRock/MLIM transaction), RF, STI, USB, WB, WFC and WM

Efficiency ratiois computed as noninterest expense divided by the sum of net interest income on a taxable-equivalent basis and noninterest income excluding securities gains (losses), net.

Tangible efficiency ratio is computed as the efficiency ratio excluding intangible amortization expense.

Corporate Overview

U.S. Bancorp places a high priority on investing in the communities we serve, communities in which our customers, our employees and our shareholders live and work.

Revenue Mix by Business Line

Wholesale Banking

U.S. Bancorp provides expertise, resources, prompt decision-making and commitment to partnerships that make us a leader in Corporate, Commercial and Commercial Real Estate Banking. From real-time cash flow management to working capital financing to equipment leasing and more, our complete set of traditional and online services is seamlessly integrated with the needs of our customers.

Payment Services

U.S. Bancorp is a world leader in payment services. Our Multi Service Aviation and Voyager fleet fuel and maintenance programs set the standard in the industry. PowerTrack® provides an enterprise payment solution for both public and private sectors. Our subsidiary NOVA Information Systems, Inc. is among the top payment processors in the world and growing, and we are among the largest ATM processors and credit, debit and gift card issuers in the industry.

Wealth Management

U.S. Bancorp provides personalized, professional guidance to help individuals, businesses and municipalities build, manage, preserve and protect wealth through financial planning, private banking and personal trust, corporate and institutional trust and custody services, insurance and investment management. From retirement plans and health savings accounts to escrows and estate planning, our clients receive quality products and exceptional service.

Consumer Banking

Convenience, customer service, accessibility and a comprehensive set of quality products make U.S. Bank the first choice of nearly 13 million consumers across our primary 24-state footprint. From basic checking and savings to flexible credit and loan options to mortgage, insurance and investment products, we streamline personal and small business banking to make banking straightforward and trouble-free.


Safety and Soundness

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.

Reputation and Performance

U.S. Bancorp is the top performing large bank in the country, according to Bank Director magazine’s 2006 Bank Performance Scorecard. The large-bank ranking included 25 banks and thrifts with total assets of $50 billion or more and was based on publicly available data over four linked quarters — Q3 and Q4 2005 and Q1 and Q2 2006.

U.S. Bancorp at a Glance

The Business and Scope
of U.S. Bancorp

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