U.S. Bank U.S. Bancorp 2001 Online Annual Report and Form 10-K

Five Star Service Guaranteed
Letter to Shareholders
Changing Banking Forever
Growing Diversified Business
Providing Convenient Access
Building the Best Bank in America
Capitalizing on Growth Opportunities
Market Leadership and Community Support

Financial Information
About U.S. Bancorp

Building the Best Bank in America

> Structure and Process
> Quality Control and Monitoring
> Key Accomplishments
> Completing the Integration

> View Integration Highlights


Structure and Process
Every week for more than a year, corporate and line-of-business leaders from across U.S. Bancorp have been gathering to execute our comprehensive plan to integrate Firstar and U.S. Bank. They are united by a common goal: to ensure a flawless, cost-effective integration for the benefit of customers, shareholders and employees. Their stellar track record—years of experience executing dozens of successful mergers—produces outstanding results.

The integration has been a textbook example of careful planning and smooth execution. Thorough preparation, employee training, systems testing and customer communication has ensured success. A series of systems conversions is bringing all our markets together on common operating and delivery platforms. Together we are equipped to handle increased capacity, enhanced functionality, and high-quality, consistent service wherever customers interact with us.
^ Back to top


Quality Control and Monitoring
Exacting quality control and monitoring—before and after conversion events—ensure that our conversions proceed smoothly. Command centers track any issues so that customer service continues uninterrupted.

Branch employee "ambassadors" with expert knowledge of our combined products, systems and processes are on location at newly converted branches and other front-office operations after conversion. They provide ongoing training and support for employees and ensure that customers experience business as usual. "Mystery shoppers" measure service levels before and after conversion events.
^ Back to top


Key Accomplishments
During the past year, we have worked diligently to combine our two predecessor organizations into an even stronger company. Together, we have created a better way to do business.

We have established a new, efficient organizational structure. We have developed common employee benefits, programs and policies, including incentives that drive employees to generate revenue while fulfilling customers' needs. We have selected the best products and services from our combined resources—or, through expanded capabilities, created new ones.

Along the way, we have invested in cutting-edge, fully automated infrastructure that lays a solid foundation for growth. In migrating to new, cost-effective network technology, we have established greater connectivity between our front and back offices. We have e-enabled employees and customers to access information and conduct transactions with unprecedented accuracy and efficiency. Gone are closed-end, self-contained processing systems. Evolving is a dedicated open Internet protocol network that supports more than 300 million transactions a month and is backed by the Five Star Service Guarantee—testament to our confidence in our systems and staff.
^ Back to top


Completing the Integration
Our entire organization has embraced our exclusive Five Star Service Guarantee. Soon we'll be completely united under one strong brand—the new U.S. Bank.

Starting in January and continuing through July 2002, the distinctive new red, white and blue U.S. Bank signs are rising market-by-market. All locations, including our ATM network, are in the process of displaying the updated identity, which promises "Five Star Service Guaranteed." In addition, all advertising and marketing materials, business supplies and customer documents reinforce our new brand.

After final systems conversions in the third quarter of 2002, all customers will have convenient access to our new, improved product and service offerings wherever we operate. They will be able to make deposits and conduct other transactions at any of our branches across 24 states.

Including our specialized businesses, the new U.S. Bank brand is recognizable from coast to coast. When customers see the U.S. Bank name, they can expect familiar faces, convenient access, top-quality solutions and unmatched service excellence—guaranteed!
^ Back to top


www.usbank.com | www.firstar.com