Acquisition exchange ratios

U.S. Bancorp acquisitions

Acquisition Name Closing Date Exchange Ratio *
United Financial Corporation 06-Feb-2007 0.6825
NOVA Corporation 24-Jul-2001 Cash or combination of cash and shares **
U.S. Bancorp (Mpls) *** 27-Feb-2001 1.265
Mercantile 20-Sep-1999 2.091
Firstar Corporation **** 20-Nov-1998 0.760

* Number of shares issued for each share of acquired company
** Shareholders who elected the common stock option received 1.407 shares of USB common stock for 73.609% of the NOVA common shares elected and $31.00 in cash per NOVA share for remaining shares. Shareholders who elected the cash option or made no election received all cash at $31.00 per share of NOVA.
*** U.S. Bancorp of Minneapolis was acquired by Firstar Corporation with the newly combined company renamed U.S. Bancorp.
**** Firstar Corporation of Milwaukee was acquired by Star Banc Corporation with newly combined company renamed Firstar Corporation.

U.S. Bancorp (formerly First Bank System)

Acquisition Name Closing Date Exchange Ratio *
Scripps Financial Corporation 13-Oct-2000 1.0670
Peninsula Bank 14-Jan-2000 1.5480
Western Bancorp 15-Nov-1999 1.2915
Bank of Commerce 15-Jul-1999 0.6000
U.S. Bancorp (Portland, Oregon) ***** 1-Aug-1997 0.7550

* Number of shares issued for each share of acquired company
***** U.S. Bancorp of Portland was acquired by First Bank System with newly combined company renamed U.S. Bancorp

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