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U.S. Bancorp's (USB) CEO Richard Davis on Bank of America Merrill Lynch 2015 Banking and Financial Services Brokers Conference (Transcript)

Erika Najarian - Bank of America Merrill Lynch

Good morning, everybody. I just had to check my watch to make sure, saying good morning versus good afternoon. I’m very excited to introduce our next bank, U.S. Bancorp. As you – many of you know they’re the fifth largest bank in the United States, and as many of you also know USB’s returns on your capital dwarf that of its mega-cap and large regional peers.

In particular, USB has walked a tight balance that is tough for many banks to achieve, achieving industry-leading efficiency ratios while pushing the envelope on innovation. And joining us in a fireside chat is Chairman, President, and CEO, Richard Davis. Richard, thank you for coming.

Richard Davis - Chairman, President and Chief Executive Officer

Thanks, mom. What an applause. And where is the fireplace, anyway, I’m just not getting that, I’m looking.

Erika Najarian - Bank of America Merrill Lynch

Once interest rate rise, we’ll…

Richard Davis - Chairman, President and Chief Executive Officer

You bring in a fireplace.

Erika Najarian - Bank of America Merrill Lynch

We’ll bring in fireplace. I will promise.

Richard Davis - Chairman, President and Chief Executive Officer

I’ll bring it with you.

Erika Najarian - Bank of America Merrill Lynch

So, Richard, we’ve been kicking off all our large bank presentations by first asking your...


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