US Bank 2011 Annual Report Download - page 19

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U.S. BANCORP 17
Forward-Looking Statements
The following information appears in accordance with the Private Securities Litigation Reform Act of 1995:
This report contains forward-looking statements about U.S. Bancorp. Statements that are not historical or current facts, including statements
about beliefs and expectations, are forward-looking statements and are based on the information available to, and assumptions and estimates
made by, management as of the date hereof. These forward-looking statements cover, among other things, anticipated future revenue and
expenses and the future plans and prospects of U.S. Bancorp.
Forward-looking statements involve inherent risks and uncertainties, and important factors could cause actual results to differ materially from those
anticipated, including deterioration in general business and economic conditions; a recurrence of turbulence in the fi nancial markets; continued stress in
the commercial real estate markets, as well as a delay or failure of recovery in the residential real estate markets; changes in interest rates; deterioration
in the credit quality of its loan portfolios or in the value of the collateral securing those loans; deterioration in the value of securities held in its investment
securities portfolio; legal and regulatory developments, increased competition from both banks and non-banks; changes in customer behavior and
preferences; effects of mergers and acquisitions and related integration, effects of critical accounting policies and judgments; and management’s ability
to effectively manage credits risk, residual value risk, market risk, operational risk, interest rate risk and liquidity risk. Such statements speak only as of
the date hereof, and the company undertakes no obligation to update them in light of new information or future events.
Important factors could cause actual results to differ materially from those anticipated, including the risks discussed in the Management’s Discussion
and Analysis section that follows, as well as the risks discussed in detail in the “Risk Factors” section on pages 134–142 of this report. However,
factors other than these also could adversely affect our results, and the reader should not consider these factors to be a complete set of all potential
risks or uncertainties.
18 Management’s Discussion
and Analysis
67 Reports of Management and
Independent Accountants
70 Consolidated Financial
Statements
74 Notes to Consolidated
Financial Statements
128 Five-year Consolidated
Financial Statements
130 Quarterly Consolidated
Financial Data
131 Supplemental Financial Data
134 Company Information
143 Executive Offi cers
145 Directors
Inside Back Cover
Corporate Information
Financials
The momentum
continues
• Ongoing innovation and investment
• Prudent capital and risk management
• Strong customer relationships
• Highly engaged employees
• Outstanding customer service
• Continuous community support
On the following pages, learn more about the fi nancial results
and corporate policies that support our goals and strategies
…and drive our momentum.