US Bank 2009 Annual Report Download - page 8
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Please find page 8 of the 2009 US Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.6 U.S. BANCORP
U.S. Bancorp Managing Committee (left to right)
Jennie P. Carlson, Executive Vice President, Human Resources
Pamela A. Joseph, Vice Chairman, Payment Services
P.W. (Bill) Parker, Executive Vice President and Chief Credit Offi cer
Richard J. Hidy, Executive Vice President and Chief Risk Officer
Joseph C. Hoesley, Vice Chairman, Commercial Real Estate
Howell (Mac) McCullough, III, Executive Vice President, Chief Strategy Offi cer
Richard K. Davis, Chairman, President and Chief Executive Officer
Lee R. Mitau, Executive Vice President and General Counsel
William L. Chenevich, Vice Chairman, Technology and Operations Services
Richard C. Hartnack, Vice Chairman, Consumer Banking
Joseph M. Otting, Vice Chairman, Commercial Banking
Andrew Cecere, Vice Chairman and Chief Financial Officer
Richard B. Payne, Jr., Vice Chairman, Corporate Banking
Diane L. Thormodsgard, Vice Chairman, Wealth Management & Securities Services
Throughout this report, you will fi nd details about our fi nancial
results and recent activities. This year, more strongly than
ever before, I encourage you to read it thoroughly for a
complete view of our operating results. I believe you will
fi nd it heartening that U.S. Bancorp remained consistently
profi table in 2009, while helping our customers manage
through these unprecedented times.
We are aligned to make the most of an economic recovery
and we have positioned the bank to emerge as an even
stronger competitor. This annual report will also allow you to
see the importance that we place on our engaged and loyal
employees and their personal contributions in creating a
world-class fi nancial institution. Our employees, our most
important asset, fulfi ll the promise of banking through the
trust, honesty and transparency they bring to everything
they do for our customers.
Our capital position remains strong. With our positive
earnings stream, business line momentum and moderating
credit costs, we expect to continue to generate signifi cant
capital going forward and build upon this already solid base.
Dividend actions
Increasing the dividend remains one of our most
important priorities. While we are confi dent that our
earnings can support a higher dividend, the permanence
and sustainability of an economic recovery, as well as
the impact of potential regulatory and legislative actions,
remain uncertain and will infl uence the level of capital that