U.S. Bancorp (NYSE:USB) Q2 2022 Earnings Conference Call July 15, 2022 9:00 AM ET Company Participants Jen Thompson - Head, Corporate Finance and Investor Relations Andy Cecere - Chairman, President and Chief Executive Officer Terry Dolan - Vice Chair and Chief Financial Officer Conference Call Participants Scott Siefers - Piper Sandler John Pancari - Evercore Gerard Cassidy - RBC Erika Najarian - UBS Mike Mayo - Wells Fargo Securities Matt O’Connor - Deutsche Bank Bill Carcache - Wolfe Research Ebrahim Poo ...

U.S. Bancorp (NYSE:USB) Morgan Stanley Financials Conference Call June 14, 2022 9:30 AM ET Company Participants Andy Cecere - Chairman, President and Chief Executive Officer Terry Dolan - Vice Chair and Chief Financial Officer Conference Call Participants Betsy Graseck - Morgan Stanley Betsy Graseck Okay. Thanks, everybody, for joining us this morning. Just need to read a disclosure statement. For important disclosures, please see Morgan Stanley research disclosure website at www.morganstanley.com/researchd ...

Industry and Company Overview * **Company**: U.S. Bancorp (NYSE: USB) * **Event**: Bernstein 36th Annual Strategic Decisions Conference, June 3, 2022 * **Participants**: Andy Cecere (CEO), Terry Dolan (CFO), John McDonald (Bernstein) * **Industry**: Banking, Payments, Wealth Management Economic and Market Outlook * **Consumer and Business Health**: Consumers and businesses are in good shape with strong deposit balances, liquidity, productivity, and spend levels. * **Inflationary Pressures**: Inflationary pressures, the war in Ukraine, and COVID-19 are causing uncertainty. * **Economic Scenarios**: U.S. Bank is planning for various economic scenarios, including a more defensive structure. * **Deposit Levels**: Deposit levels have flattened but remain 2x to 4x pre-pandemic levels. * **Spending Trends**: Spending levels are up 30+ percent versus pre-pandemic levels, with a shift towards services and non-discretionary spending. * **Federal Reserve**: The Fed is expected to control inflation, but there are factors out of their control, such as supply chains and workforce participation. U.S. Bancorp Performance * **Loan Growth**: Loan growth has been strong, particularly in the C&I and commercial sectors. * **Technology Investments**: Technology investments are paying off, with higher take-down rates in digital processes. * **Acquisitions**: Acquisitions such as TravelBank and PFM have expanded the Wealth Management Group and payments ecosystem. * **Union Bank Acquisition**: The acquisition of Union Bank is expected to increase scale by about 20% and add nearly 200,000 business banking customers. Key Business Segments * **Loan Growth**: Loan growth is broad-based across most markets and industry sectors, particularly in inventory building and capital investments. * **Credit Card**: Credit card spending is up 35% versus pre-pandemic levels, but payment rates remain high. * **Auto**: The auto business is performing well due to high values of used cars returning from leases. * **Mortgage**: Mortgage volumes are down, but U.S. Bank is focusing on new purchase activity. * **Small Business**: U.S. Bank is targeting small business growth through investments and acquisitions, aiming for 20-25% revenue growth. * **Net Interest Income (NII)**: U.S. Bank expects NII to expand 8-11% in 2022 due to rising rates and asset sensitivity. * **Union Bank Acquisition**: The acquisition is expected to be accretive to earnings, with cost savings and revenue synergies. * **Efficiency**: U.S. Bank is targeting at least 200 basis points of positive operating leverage this year, driven by revenue growth, cost reductions, and the Union Bank acquisition. * **Technology**: U.S. Bank is investing in technology, with a focus on digital capabilities and cloud-based solutions. * **Regulation**: U.S. Bank is prepared for the implications of reaching the $700 billion asset threshold, including capital and liquidity requirements. Conclusion U.S. Bancorp is well-positioned to navigate the current economic environment and capitalize on growth opportunities. The company's focus on technology, customer experience, and strategic acquisitions positions it for success in the evolving banking industry.

U.S. Bancorp (NYSE:USB) Deutsche Bank 12th Annual Global Financial Services Conference Call May 31, 2022 3:15 PM ET Company Participants Gunjan Kedia - Vice Chair of Wealth Management and Investment Services Conference Call Participants Matthew O'Connor - Deutsche Bank Securities, Inc. Question-and-Answer Session Q - Matthew O'Connor Okay. We are ready to get started. Next up is U.S. Bancorp. And with us today is Gunjan Kedia, Head of Wealth Management and Investor Services. This is a fireside chat format. ...

U.S. Bancorp (NYSE:USB) Q1 2022 Results Conference Call April 14, 2022 9:00 AM ET Company Participants Andy Cecere - Chairman, President and CEO Terry Dolan - Vice Chair and CFO Jen Thompson - Director of IR and Economic Analysis Conference Call Participants Matt O'Connor - Deutsche Bank John Pancari - Evercore ISI Betsy Graseck - Morgan Stanley Erika Najarian - UBS Ken Usdin - Jefferies Mike Mayo - Wells Fargo Securities Vivek Juneja - JPMorgan Gerard Cassidy - RBC Terry McEvoy - Stephens Bill Carcache - W ...

U.S. Bancorp (NYSE:USB) 2022 RBC Capital Markets Global Financial Institutions Conference March 9, 2022 8:00 AM ET Company Participants Terry Dolan - Vice Chair and Chief Financial Officer Tim Welsh - Vice Chair, Consumer and Business Banking Conference Call Participants Gerard Cassidy - RBC Capital Markets Operator Gerard Cassidy Good morning, everyone. This is Gerard Cassidy from RBC Capital Markets. Welcome to the second day of the RBC Financial Institutions Conference. We're very pleased to have to kick ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from (not applicable) Commission file number: 1-6880 U.S. Bancorp (Exact name of registrant as specified in its charter) Delaware 41-0255900 (State or other jurisdiction of incorp ...