Corporate Overview

Mission Statement
U.S. Bancorp unveils its new mission statement — it’s our employees’ clear, strong commitment to our customers, communities and shareholders. We put our mission into action every day.

Points of Pride

U.S. Banker Magazine Names U.S. Bancorp Top Banking Team

Solid performance landed U.S. Bancorp Chairman, President and CEO Richard Davis, CFO Andrew Cecere, and the bank on U.S. Banker’s annual All-Star Banking Team. The ranking was published in the magazine’s January 2008 issue.

U.S. Bank Awarded “Outstanding” Rating

In 2007, U.S. Bank National Association was awarded an “Outstanding” rating, the highest rating possible, by the Office of the Comptroller of the Currency (OCC) for its commitment to the letter and spirit of the Community Reinvestment Act (CRA). By awarding this rating, the OCC acknowledged that U.S. Bank is continuing to meet the credit needs of all segments of its communities.

Top Women in Banking. Again.

U.S. Banker, a SourceMedia publication, ranked U.S. Bancorp number one in the nation for the second year in a row for its “Top Banking Team.” The award was announced in the October 2007 “Most Powerful Women in Banking” issue. Two U.S. Bancorp women — Pam Joseph and Diane Thormodsgard — ranked in the top 10 Most Powerful Women in Banking category, in addition to the bank garnering the top team award.

U.S. Bancorp Business Scope

Revenue by Business Line for the Year-ended 2007

Lines of Business

26%

Payment Services — U.S. Bancorp is a world leader in payment services.

Corporate Payment Systems
Merchant Payment Services
NOVA Information Systems®
Retail Payment Solutions: Debit, Credit, Specialty Cards and Gift Cards
Transactions Services: ATM and Debit Processing and Services


19%

Wholesale Banking — U.S. Bancorp provides expertise, resources, prompt decision-making and commitment to partnerships that make us a leader in Corporate, Commercial and Real Estate Banking.

Middle Market Commercial Banking
Commercial Real Estate
National Corporate Banking
Correspondent Banking
Dealer Commercial Services
Community Banking
Equipment Finance
Foreign Exchange
Government Banking
International Banking
Treasury Management
Small Business Equipment Finance
Small Business Administration (SBA) Division
Title Industry Banking

12%

Wealth Management & Securities Services — U.S. Bancorp provides solutions to help individuals, businesses and municipalities build, manage, preserve and protect wealth and distribute obligations.

Wealth Management:
Private Client Group
U.S. Bancorp Investments, Inc.
U.S. Bancorp Insurance Services, LLC
Securities Services:
Corporate Trust Services
Institutional Trust & Custody
FAF Advisors, Inc.
U.S. Bancorp Fund Services, LLC

40%

Consumer Banking — Convenience, customer service, accessibility and a comprehensive set of quality products make U.S. Bank the first choice of 13 million-plus consumers.

Community Banking
Metropolitan Branch Banking
In-store and Corporate On-site Banking
Small Business Banking
Consumer Lending
24-Hour Banking & Financial Sales
Home Mortgage
Community Development
Workplace and Student Banking