1

AAlluummnnii lluunncchheeoonn bbrriinnggss mmoorree tthhaann 770000 ooff UUSS ttooggeetthheerr

Twin Cities – January 2013

On Sept. 18, 2012, current and former U.S. Bankers reunited for the annual luncheon in the Twin Cities.

AAbboouutt yyoouurr hhoosstt:: RRiicchhaarrdd DDaavviiss

U.S. Bank Experience: Richard Davis is chairman, president and chief executive officer of U.S. Bancorp, with more than $353 billion in total assets and businesses across the United States, Canada and Europe. Richard is married and the father of three adult children and has two grandsons. Richard began his banking career as a teller at age 18, worked his way through college and became CEO of U.S. Bank in 2006. His enthusiasm for his industry is equally prevalent in his civic and philanthropic commitments.

He chairs U.S. Bancorp’s managing committee, the 14-highest ranking executives within the organization. Richard has been an influencing force in the banking industry for 35 years. His leadership and prudent approach to financial management has garnered national and international praise for U.S. Bancorp, which has emerged as strong and stable following one of the most difficult chapters in banking history. His outstanding leadership skills were recognized as he was named the “2010 Executive of the Year” by the Twin Cities Business Journal and “2010 Banker of the Year” by the American Banker. He serves on the boards of the American Red Cross, Minnesota Orchestra, Twin Cities YMCA, Minneapolis Art Institute, University of San Diego, Business Council, University of Minnesota Foundation, Greater MSP and Minnesota Business Partnership, and the Clearing House. He also is a member of the Financial Services Roundtable and the International Monetary Conference (IMC), and is the representative for the Ninth District of the Federal Reserve serving as the President of the Financial Advisory Committee. He has been honored by the Banking and Finance Division of the UJA-Federation of New York and has been the recipient of the President’s Lifetime Volunteer Service Award. In 2011, he received the Henrickson’s Award for Ethical Leadership. He has received honorary degrees from the University of St. Thomas and the College of Mt. St. Joseph. Education: He earned a bachelor's degree in economics from California State University at Fullerton.

2AAbboouutt yyoouurr hhoosstt::

EElllliioott JJaaffffeeee

U.S. Bancorp Experience: Elliot Jaffee serves as the Twin Cities market president. He manages the company’s commercial banking business in the Twin Cities, Washington, Oregon, Nevada, Arizona and Utah. He also oversees U.S. Bank’s business activities in the Twin Cities market, supervises the company’s regional board in the Twin Cities and leads the Twin Cities-based market committee, a group of local senior leaders representing the company’s key lines of business and staff functions. Elliot has nearly 20 years of experience in financial services, the majority of which have been at U.S. Bank. Prior to being named Twin Cities market president, he held a number of roles within U.S. Bank’s corporate banking division. Previous Experience: Prior to joining U.S. Bank, Elliot worked as a corporate banking relationship manager at Bank of America.

2

SSaavvee tthhee DDaattee!! Alumni Luncheon Event of 2013 Friday, Aug. 23, 2013 Minneapolis Convention Center Be our honorary guest as we celebrate 150 years in 2013! The social hour will start at 10 a.m., followed by lunch at 11 a.m. Visit the Alumni website for additional information.

Professional Affiliations: An active and dedicated member of the community, Elliot is involved with local civic organizations. He serves on the boards of directors of the Minnesota Chamber of Commerce and as the board chair of the Minneapolis Downtown Council. Education: He earned a bachelor’s degree from Cornell University in Ithaca, New York, and an MBA from The University of Chicago Graduate School of Business, where he graduated with honors.

SShhaarree tthhiiss nneewwsslleetttteerr wwiitthh ffaammiillyy aanndd ffrriieennddss

View the Twin Cities newsletters online at http://www.usbankhr.com/hr/docs/alumni

TwinCities12.pdf.

MMaakkee aa ddiiffffeerreennccee iinn yyoouurr ccoommmmuunniittyy

United Way Each year, U.S. Bank supports the United Way through an annual campaign, collecting funds to support these efforts. If you would like to get involved, either through financial contributions or volunteering in your community, we would appreciate your support. Visit www.liveunited.org to sign up for updates from United Way or learn more about United Way efforts in your community. To make a donation, or if you have questions, contact the U.S. Bancorp Foundation at usbankunitedway@usbank.com or 612-303-4000. Volunteer with US Accountability MN (Late January – April 17): U.S. Bank partners with Accountability MN to provide free tax prep to low- and moderate-income individuals. Visit www.usbank.com/alumni for additional information. Twin Cities American Heart Walk (May 4): Join over 25,000 Twin Cities Heart Walk participants in promoting the American Heart Association's mission of building healthier lives, free of cardiovascular diseases and stroke. Make a difference with U.S. Bank and the American Heart Association by volunteering for this heart healthy event.

Please consider participating with or chairing an Alumni Heart Walk Team. Call to register, volunteer or find out more details. Amy Batchelder, 612-344-6012 or amy.batchelder@usbank.com Heidi Sutherland, 612-973-0854 or heidi.sutherland1@usbank.com Karon Fitzhugh, 866-680-2586 or karon.fitzhugh@usbank.com FFiinndd UUSS oonn ssoocciiaall mmeeddiiaa Visit U.S. Bank online at usbank.com or Facebook, Twitter and YouTube for more U.S. Bank news and updates.

Facebook Visit www.facebook.com/usbank for helpful banking and security tips, contests, promotions and more. Like US on Facebook, and share U.S. Bank news with your friends. Be sure to check out our new Facebook Timeline by clicking on the various timeline years listed on the right. See some old-school banking photos and learn a bit more about us.

Twitter U.S. Bank tweets with customers to provide support and gather constructive feedback to provide even better service on twitter.com/askusbank. We also share great U.S. Bank news, such as participation in community events.

YouTube U.S. Bank selects videos for its own YouTube channel to highlight presentations, commercials, company initiatives and more.

3

Two thumbs up for Richard Davis In an article on The Daily Finance called "This Is One Incredible CEO," Sean Williams shows the things Richard has done, but also the things he "hasn’t" done to lead U.S. Bancorp to exceptional results. Williams is known for pointing out CEO faux pas, but his readers asked for something positive: enter U.S. Bancorp Chairman, President and CEO Richard Davis, and our company. U.S. Bank donates $100,000 to Portland Public Schools’ Early Learners Academy The Early Learners Academy in northwest Portland offers educational programming for preschoolers in an area with limited options for families with young children. The donation comes at a time when the Portland Public School District, like others across the state, faces a significant gap between its operating budget and its ability to maintain current service levels.

UUSSBB DDiissccoouunntt PPrrooggrraamm Access special discounts and offers on local and national products and services through the discount program at usbankalumni.memberdiscounts.co. UUSSBB BBaannkkiinngg DDiissccoouunnttss For special offers on U.S. Bank products and services, visit the Banking Discount site at usbankhr.com/hr/employeePerk/evpIM.asp or visit your local branch. New! Purchase the U.S. Bank Visa Gift Card online, and we'll reduce the purchase fee from $6.95 to $2. Order online at http://www.usbankmyaccount.com and enter promotion code: ONLYEMP. Reminder: As Alumni, you can take advantage of our top-tier Platinum Package, which provides checking with expanded benefits, including the best rates, special rewards and exclusive discounts. The $25,000 compensating balance requirement is waived for Alumni. usbankhr.com/hr/employeePerk/evpIM.asp#platinum

U.S. Bank tops the charts Money magazine has named U.S. Bank the best national bank in America for our basic checking and savings, student checking and senior checking accounts. The "Best Banks in America" story is in the October 2012 issue of Money magazine. Money credited U.S. Bank’s broad retail banking network—fourth-largest in the country—combined with how easy it is for U.S. Bank customers to waive the monthly maintenance fee. U.S. Bank also topped Money’s charts for student and senior checking. Read the full press release on usbank.com.

Pam Joseph and WLA help African girls American Banker profiled Vice Chairman of Payments Pam Joseph for extending her passion for developing others beyond the reach of traditional mentoring programs. Under Pam's leadership, a group of Payments industry employees called WLA (Women Leaders in Action) have raised $400,000 to help schools in rural Africa and other philanthropic causes. Several of the women have traveled to Kenya and seen firsthand the impact of their efforts. Read the full story on American Banker's website.

4

SSttaayy iinn ttoouucchh

AAlluummnnii WWeebbssiittee Check out the U.S. Bank website for retirees and alumni, which features upcoming events, volunteer opportunities, exclusive discounts on U.S. Bank products and services and more. Visit www.usbank.com/alumni. If you would like to be added to the alumni mailing list or have alumnus questions, call 866-680-2586 or email alumni@usbank.com.

Alumni network recognized in Corporate Citizenship Report The 2011 Corporate Citizenship Report demonstrates that strong connections start with understanding the needs of our communities and deepening relationships in ways that help us grow. Key projects and initiatives that U.S. Bank has been involved in are highlighted in these annual reports. www.usbank.com/community/corp-citizen-report.html.

Barron’s list of 100 Most Respected Companies – we’re 35th! Each year, Barron’s surveys money managers about their views of the world’s largest companies. The latest results are in…and we ranked #35 on the list! To complete the survey, participants were asked to select one of four statements reflecting their view of each company: Highly Respect, Respect, Respect Somewhat, or Don't Respect. Point values were assigned to each response, with the highest accorded to Highly Respect. A mean score was also tabulated for each company. View the full article and the list of 100 Most Respected Companies.

U.S. Bancorp ranked a “Most Admired” company…again! Fortune Magazine released its 2012 "World’s Most Admired Companies" report, and we have much to celebrate! For the second year in a row, U.S. Bancorp was named the No. 1 most-admired superregional bank! We led the superregional bank category in five of the nine categories, including people management, use of corporate assets, quality of management, financial soundness and long-term investment.

5

WWee’’vvee ssuurrppaasssseedd oouurr vveetteerraann hhiirriinngg ggooaall iinn 22001122 U.S. Bank now employs more than 2,300 veterans nationwide, and we are continuing our efforts to recruit veterans. "U.S. Bank is firmly committed to employing and supporting veterans, active-duty service members and their families," said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp. Additionally, this is the second consecutive year that U.S. Bank has been recognized by G.I. Jobs as a Top 100 Military Friendly Employer. The ranking is featured in the magazine’s December issue and online at www.gijobs.com.

FFaacceess iinn tthhee ccrroowwdd

Frank Porter was nominated by his former colleagues to be recognized as one of our outstanding alumni. Frank proudly served our country in the U.S. Navy Air Corps during World War II and the Korean War. After returning home, Frank attended the University of Wisconsin and graduated in 1950 with his degree in law. He spent several years in the legal departments of Mathison Paper and General Mills before starting his amazing 22-year banking career at First Bank Systems in 1968. As general counsel and secretary of First Bank System, Frank oversaw the first overseas security offering, acquiring a number of small banks which included a failing bank. Frank traveled to Washington, D.C. on a monthly basis to meet with the Federal Reserve Bank and Trade Association. He is a person of very high moral character who is known for his likeability and strong work ethic. Frank treasures his memories at the bank and still keeps in touch with former co-workers. Frank and his wife, Solveig, love to travel and enjoy spending the winter months in Florida. He is very proud of his four children and four grandchildren. Frank is an avid Civil War buff and is thrilled to have visited all of the Civil War battlefields and sites. If you’re headed to Florida and plan to visit the mangrove swamps, keep an eye out for tour guide Frank. He enjoys sharing his knowledge as he drives electric boats through the majestic beauty of the Everglades.

Charlotte Lowery started her incredible 35-year career at First National Bank of Minneapolis in 1953. She worked as a teller at the downtown branch. Throughout her career, Charlotte held various leadership roles, including working in retail operations, overdrafts, loan accounting and collections. Her favorite part of the job was working with customers, saying, “They were the best.” Charlotte’s former colleagues describe her as a go-getter who was always willing to take the time to mentor them. If you were trained by Charlotte, you had the best! Charlotte and her husband, Joe, have celebrated 47 years of marriage. They love to travel, and have many fond memories of trips to New York, California, Florida and Hawaii. Both Charlotte and Joe are tireless volunteers, having volunteered for more than 40 years at the Minneapolis Veterans Hospital. You can also find them donating time to the American Cancer Society, Salvation Army and March of Dimes. They love helping others and strongly believe there is no greater satisfaction than making a difference in someone’s life. Charlotte stays in touch with her former colleagues by attending the First Bank Systems monthly luncheons and holiday parties for the past 25+ years. She treasures these friendships…some of which have lasted over 40 years.

Frank, thank you for your years of dedication and service to U.S. Bank. We are proud to call you an alumnus.

Charlotte, thank you for being a U.S. Bank Alumni and for giving back so much to our communities.

6

7

CCoommmmeennttss ffrroomm tthhee ccrroowwdd:: "Richard Davis’ presentation = wow!"

- Elizabeth McCarthy, Alumni "Thank you for a wonderful luncheon and a chance to see some old friends.”

- Dolores Walstrom, Alumni "Excellent update on the status of the bank; I feel pride in being an alumna."

- Joan Calott, Alumni "Everything was great. I’m proud to be a 57-year alumnus.”

- Kenneth Broin, Alumni “Thank you so much for holding these wonderful luncheons. Richard Davis is a great speaker.”

- Kari Marsh, Alumni "The luncheons are a time to renew friendships. I love them and I hope the event will continue for years and years to come.”

- Melvin Dahlberg, Alumni

"I enjoyed the update and I’m looking forward to the Veterans Breakfast!” - Merlyn Flaata, Alumni

"The luncheon was excellent. Don’t change anything!"

- Randy Tomasorich, Alumni

"Thanks to all who make this incredible event possible." - Patricia Tiller, Alumni

"I enjoyed connecting with the banking community and having the opportunity to see former colleagues that I worked with, laughed with, and sometimes cried with. Great event!

- Thomas Langlois, Alumni

"Good to know how the bank is doing. Thank you." - George Sanders, Alumni

"I am a ‘nut’ for the U.S. Bank Alumni event." - Karen Skelton, Alumni

"This was my first alumni luncheon after retiring this past March. It was great seeing old friends that I worked with years ago and listening to Richard Davis’ speech – he is a remarkable leader.”

- Helen Chelin, Alumni "Great speakers! Good to know how the bank is doing. Thanks for making us feel special.”

- Betty Levin, Alumni

"Good information about our past and so great to hear about our vision-filled future.” - Barbara Douglas, Alumni

MMoosstt PPoowweerrffuull WWoommeenn iinn BBaannkkiinngg American Banker magazine released its annual ranking of the Most Powerful Women in Banking for 2012 and, once again, U.S. Bancorp is well represented with Pam Joseph, Leslie Godridge and Lynn Heitman receiving individual honors. 25 Most Powerful Women in Banking: Pam Joseph (Payment Services) #5 Leslie Godridge (National Corporate Banking) #16 25 Women to Watch: Lynn Heitman (Retail Payment Solutions) #20

NNeewwss ffoorr TTwwiinn CCiittiieess DDeevveellooppmmeenntt NNeettwwoorrkk Rob Abele, U.S. Bank Minneapolis retiree, continues as the Twin Cities alumni liaison. Rob served 20 years as an employee of U.S. Bank until he retired in 2011 from Corporate Payment Systems. A special thanks to Rob who has been an active participant in activities of the USB alumni. He looks forward to continuing his liaison role with the Development Network by promoting volunteer opportunities for local alumni.

AAlluummnnii CCoonnnneecctt EEvveennttss

Date Market Description Contact Monthly – Fourth Thursday of every month (except Nov.-Dec.)

Twin Cities FBS Alumni Monthly Luncheon - Former employees retirees of First Bank System welcome. American Legion - 65th & Portland Richfield, Minn.

Dina Brooks 763-566-1187 HUdbrooks@usfamily.netUH

Aug. 13, 2013 Twin Cities FBS Reunion & Golf Tournament - All First Bank System retirees and former employees with at least 10 years of service are welcome. This will take place at the Oak Glen Country Club in Stillwater, Minn.

Larry Kennedy 651-439-1032 HUlarrykennedy1@earthlink.netUH

FFBBSS HHoolliiddaayy GGaatthheerriinngg In the largest turnout for this event, 120 alumni gathered for the annual holiday luncheon on Dec. 3, 2012. The Knights of Columbus Hall in Bloomington, Minn. was festively decorated for the holidays. Attendees were fond of the alumni reusable bags and umbrellas, especially since it was a misty day. The emcee, Wally Norlander, did a wonderful job handing out U.S. Bank gift cards to winners of the drawing. To view photos from the party, visit: https://picasaweb.google.com/109136304012533719311/FirstBank2012HolidayGathering?authuser=0&feat=directlink

Dina Brooks and Hope Esparolini are all smiles as they await arrival of their guests.

8

FBS Annual Golf Reunion On Aug. 14, 2012, First Bank System retirees and former employees reunited at the Oak Glen Country Club in Stillwater for their annual golf reunion. It was a memorable day of golf and dinner, and Larry Kennedy and Al Dubiak were terrific emcees!

(Sitting from left to right): Bernie Conlin, Mel Dahlberg, Dave Herzer, and David Williams. (Standing): Ben Dewit, Dick Thomas, and Frank Porter.

Alumni John Vosick enjoyed visiting with so many former colleagues.

9

OOtthheerr ccoommppaanniieess aarree ggrreeeenn wwiitthh eennvvyy

U.S. Bank made Newsweek's Greenest Companies Rankings' top 100 in the U.S. again this year! Our company was again named one of the top 100 greenest companies in the U.S. and one of the top 150 greenest global companies! We ranked #61 in the U.S. Companies category, and #126 in the Global category. We continue to raise our standards and increase our efforts as expectations rise, especially within our industry. U.S. Bank ranked 8th among the largest 53 companies in the Financials category in the U.S., which includes insurance companies as well as banks and other financial service providers. Only Citi and Bank of America ranked higher as banks. You can find the full list, as well as more information about the rankings, on Newsweek’s website and browse by industry.

Faces in the Crowd Would you like to nominate someone for Faces in the Crowd at our next event? We would like to hear from you … contact us at alumni@usbank.com or 866-680-2586.

RReettuurrnn ttoo wwoorrkk aatt UU..SS.. BBaannkk Are you interested in returning to work at U.S. Bank? Whether you are seeking full-time, part-time, short-term or long-term work, we’d like to talk to you. Contact Erica Hess at erica.hess1@usbank.com to connect with recruiters or HR staff that can help you find your place at U.S. Bank. Note: Retired employees may be eligible for re-hire after they have been retired for 12 months.

10

PPrroouudd ttoo SSeerrvvee Be sure to check out the Proud to Serve community on Facebook from the official U.S. Bank page to learn about U.S. Bank military initiatives, view photos and videos from military events, and share your stories with US.

UU..SS.. BBaannkk rreeccooggnniizzeedd aass MMiilliittaarryy FFrriieennddllyy EEmmppllooyyeerr In November, G.I. Jobs magazine named U.S. Bank one of the nation's Top 100 Military Friendly Employers®.

IInn tthhee mmaarrkkeett ffoorr aa vveehhiiccllee?? Check out the U.S. Bank Auto Lot inventory at www.autolotvehicles.com for exclusive discounts on off-lease vehicles for U.S. Bank employees and alumni. Click on How It Works or FAQ for details.

Have you moved recently? Or had a change of address? Be sure to update your address by calling the U.S. Bank Employee Service Center at 800-806-7009 to stay in touch with the alumni engagement network.

Special Thanks Thank you to all who attended our Twin Cities event. We look forward to seeing you in 2013. Also, a special thanks to alumni Wally Norlander for his dedication in preparing our amazing Twin Cities historical display for the event.

11

Countdown is on: Switch now to direct deposit for Federal Benefit Payments Source: U.S. Department of the Treasury, Financial Management Service If you get Social Security or other federal benefit payments by paper check, you should know that you are required by the U.S. Department of the Treasury to switch to electronic payments by March 1, 2013. It’s fast, easy and free to switch to direct deposit today. You can sign up:

At your local U.S. Bank branch Online at the Treasury Department’s Go

Direct® website at www.GoDirect.org By calling the U.S. Treasury Electronic

Payment Solution Center at 800-333-1795

Making the switch will help save taxpayers $1 billion over the next 10 years. For details and information, visit www.GoDirect.org or view the Go Direct instructional video.

Make your Smartphone Smarter Get the latest U.S. Bank Mobile app on any mobile device with Internet access and enjoy secure, convenient banking anywhere, anytime. Manage your accounts, deposit checks, pay bills and receive customized account alerts with U.S. Bank Mobile Banking. Visit www.usbank.com/mobile/mobile-

Dorothy Larson – 55 years Barbara Johnson – 53 years Roger Seaborg – 52 years Joyce Scholer – 50 years Mary Litke – 49 years Cathy Dudley – 48 years Barbara Lowell – 46 years Sandra Michalson – 46 years Joanne Hoeger – 45 years Joe Borland – 44 years Veronica Clardy – 44years Mona Gauger – 44 years Julie Hilke – 44 years Dianne Hofmeister – 44 years Susan Johnson – 44 years

Kathryn Lagace – 44 years Patricia Selbitschka – 44 years Dixie Billier – 43 years Janet Dahlen – 43 years Carroll Jesberg – 43 years James Schinckle – 43 years Dorothy Strub – 43 years Lois Thompson – 43 years Linda Anderson – 42 years Lois Becker – 42 years Patricia Burks – 42 years Barbara Evenson – 42 years Helen Glendenning – 42 years Mary Stone – 42 years

Celebrating Exceptional Service We were proud to have our current employees with more than 42 years of service join us at the 2012 Twin Cities Alumni Luncheon.

A record number of alumni attended the 2012 event.

Alumni Jerry Gehling, Marion Gehling and Anne Gelhar-Stephens enjoying lunch in the ballroom.

Current long-term employees Roger Seaborg (52 years), and Virginia Seaborg join alumni Marge Anderson and Vivian Blank to take a stroll down memory lane at the historical table.

2012 Twin Cities Alumni Event

Alumni Allan and Karen Skelton are ready to reminisce with former colleagues.

12

A special moment captured as former colleagues reunite.

Richard Davis, chairman, president and CEO with Florde Ward, Alumni.

13

PPhhoottoo BBooootthh FFuunn

PPrroouudd ooff OOuurr HHeerriittaaggee

14