<PAGE>

    FORM OF SERIES 1997-1 CERTIFICATEHOLDERS' STATEMENT - ANNUAL CERTIFICATE

                        U.S. BANK NATIONAL ASSOCIATION ND
              ----------------------------------------------------
                     FIRST BANK CORPORATE CARD MASTER TRUST
              ----------------------------------------------------

     Capitalized terms used in this Statement have their respective meanings set
     forth in the Pooling and Servicing Agreement.
<TABLE>
<CAPTION>
                                                                                                               2000
                                                                                                         Aggregate Amounts
<S>                                                                                                  <C>
A.   INFORMATION REGARDING THE CURRENT DISTRIBUTION (STATED ON THE BASIS OF
     $1,000 ORIGINAL CERTIFICATE PRINCIPAL BALANCE)

     1.  Class A Monthly Principal                                                                   $             -
                                                                                                     --------------------

     2.  Class B Monthly Principal                                                                   $             -
                                                                                                     --------------------

     3.  Collateral Monthly Principal                                                                $             -
                                                                                                     --------------------

     4.  Class A Monthly Interest                                                                    $           64.00
                                                                                                     --------------------

     5.  Class A Deficiency Amounts                                                                  $             -
                                                                                                     --------------------

     6.  Class A Additional Interest                                                                 $             -
                                                                                                     --------------------

     7.  Class B Monthly Interest                                                                    $           65.50
                                                                                                     --------------------

     8.  Class B Deficiency Amounts                                                                  $             -
                                                                                                     --------------------

     9.  Class B Additional Interest                                                                 $             -
                                                                                                     --------------------

     10. Collateral Monthly Interest                                                                 $           68.32
                                                                                                     --------------------

     11. Accrued and unpaid Collateral Monthly Interest                                              $             -
                                                                                                     --------------------

B.   INFORMATION REGARDING THE PERFORMANCE OF THE TRUST

1.   Principal Collections
     (a) Principal Collections allocated to the Class A Certificates                                 $4,269,884,856.17
                                                                                                     --------------------

     (b) Principal Collections allocated to the Class B Certificates                                 $   68,136,460.47
                                                                                                     --------------------

     (c) Principal Collections allocated to the Collateral Investor Interest                         $  204,409,381.41
                                                                                                     -----------------------

2.   Trust Principal Component
     (a) Trust Principal Component as of the end of the related Collection Period(s)                 $8,079,261,378.73
                                                                                                     --------------------

     (b) Series 1997-1 Invested Amount as of the end of the related Transfer Date(s)                 $  420,000,000.00
                                                                                                     --------------------

     (c) Series 1997-1 Adjusted Invested Amount as of the end of the related Transfer Date(s)        $  420,000,000.00
                                                                                                     --------------------

     (d) Class A Invested Amount as of the end of the related Transfer Date(s)                       $  394,800,000.00
                                                                                                     --------------------

     (e) Class A Adjusted Invested Amount as of the end of the related Transfer Date(s)              $  394,800,000.00
                                                                                                     --------------------

     (f) Class B Invested Amount as of the end of the related Transfer Date(s)                       $    6,300,000.00
                                                                                                     --------------------

     (g) Collateral Invested Amount as of the end of the related Transfer Date(s)                    $   18,900,000.00
                                                                                                     --------------------

     (h) Floating Allocation Percentage with respect to the related Collection Period(s)                         62.91%
                                                                                                     --------------------

<PAGE>

     (i) Class A Floating Percentage with respect to the related Collection Period(s)                            59.13%
                                                                                                     --------------------

     (j) Class B Floating Percentage with respect to the related Collection Period(s)                             0.94%
                                                                                                     --------------------

     (k) Collateral Floating Percentage with respect to the related Collection Period(s)                          2.83%
                                                                                                     --------------------

     (l) Fixed Allocation Percentage with respect to the related Collection Period(s)                              N/A
                                                                                                     --------------------

     (m) Class A Fixed Percentage with respect to the related Collection Period(s)                                 N/A
                                                                                                     --------------------

     (n) Class B Fixed Percentage with respect to the related Collection Period(s)                                 N/A
                                                                                                     --------------------

     (o) Collateral Fixed Percentage with respect to the related Collection Period(s)                              N/A
                                                                                                     --------------------

3.   Delinquent Balances
     The aggregate amount of outstanding balances in the Accounts which were
     delinquent as of the end of the day on the last day of the related
     Collection Period(s):
                                                                                                       Aggregate Account
                                                                                                            Balance
                                                                                                     -----------------------
                              (a) 30-59 days:                                                               $6,947,542.61
                              (b) 60-89 days:                                                              $10,822,745.12
                              (c) 90-119 days:                                                                $959,732.85
                              (d) 120-149 days:                                                               $162,559.82
                              Total:                                                                       $18,892,580.40

                                                                                                         Percentage of
                                                                                                       Total Receivables
                                                                                                     -----------------------
                              (a) 30-59 days:                                                                        1.07%
                              (b) 60-89 days:                                                                        1.66%
                              (c) 90-119 days:                                                                       0.15%
                              (d) 120-149 days:                                                                      0.02%
                              Total:                                                                                 2.90%

4.   Investor Default Amount
     (a) Investor Default Amount for the related Collection Period(s)                                $    1,746,376.64
                                                                                                     --------------------

     (b) Class A Investor Default Amount for the related Collection Period(s)                        $    1,641,594.04
                                                                                                     --------------------

     (c) Class B Investor Default Amount for the related Collection Period(s)                        $       26,195.65
                                                                                                     --------------------

     (d) Collateral Investor Default Amount for the related Collection Period(s)                     $       78,586.95
                                                                                                     --------------------

5.   Investor Charge-Offs
     (a) Aggregate Class A Investor Charge-Offs for the related Collection Period(s)                 $             -
                                                                                                     --------------------

     (b) Class A Charge-Offs per $1,000 of original Certificate
          Principal Balance                                                                          $             -
                                                                                                     --------------------

     (c) Aggregate Class B Investor Charge-Offs for the related Collection Period(s)                 $             -
                                                                                                     --------------------

     (d) Class B Charge-Offs per $1,000 of original Certificate
          Principal Balance                                                                          $             -
                                                                                                     --------------------

     (e) Aggregate Collateral Investor Charge-Offs for the related Collection Period(s)              $             -
                                                                                                     --------------------

     (f) Collateral Charge-Offs per $1,000 of original Certificate
         Principal Balance                                                                           $             -
                                                                                                     --------------------

     (g) Aggregate Class A Investor Charge-Offs reimbursed on the related
         Transfer Date(s)                                                                            $             -
                                                                                                     --------------------

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     (h) Class A Investor Charge-Offs reimbursed per $1,000 of original Certificate
         Principal Balance                                                                           $             -
                                                                                                     --------------------

     (i) Aggregate Class B Investor Charge-Offs reimbursed on the related
         Transfer Date(s)                                                                            $             -
                                                                                                     --------------------

     (j) Class B Investor Charge-Offs reimbursed per $1,000 of original Certificate
         Principal Balance                                                                           $             -
                                                                                                     --------------------

     (k) Aggregate Collateral Investor Charge-Offs reimbursed on the related
         Transfer Date(s)                                                                            $             -
                                                                                                     --------------------

     (l) Collateral Investor Charge-Offs reimbursed per $1,000 of original Certificate
         Principal Balance                                                                           $             -
                                                                                                     --------------------

6.   Monthly Investor Servicing Fee
     (a) Class A Servicing Fee payable for the related Collection Period(s)                          $    3,948,000.00
                                                                                                     --------------------

     (b) Class B Servicing Fee payable for the related Collection Period(s)                          $       63,000.00
                                                                                                     --------------------

     (c) Collateral Servicing Fee payable for the related Collection Period(s)                       $      189,000.00
                                                                                                     --------------------

7.   Reallocations
     (a) Reallocated Collateral Principal Collections with respect to
         the related Collection Period(s)                                                            $             -
                                                                                                     --------------------

     (b) Reallocated Class B Principal Collections with respect to
         the related Collection Period(s)                                                            $             -
                                                                                                     --------------------

     (c) Collateral Invested Amount as of this Distribution Date                                     $   18,900,000.00
                                                                                                     --------------------

     (d) Class B Invested Amount as of this Distribution Date                                        $    6,300,000.00
                                                                                                     --------------------

8.   Yield Collections and Net Interchange
     (a) Aggregate Yield Collections (including Net Interchange)
         processed during the related Collection Period allocated
         in respect of the Class A Investor Certificate                                              $  159,456,634.48
                                                                                                     --------------------

     (b) Aggregate Yield Collections (including Net Interchange)
         processed during the related Collection Period allocated
         in respect of the Class B Investor Certificate                                              $    2,544,520.76
                                                                                                     --------------------

     (c) Aggregate Yield Collections (including Net Interchange)
         processed during the related Collection Period allocated
         in respect of the Collateral Investor Certificate                                           $    7,633,562.29
                                                                                                     --------------------

9.   Principal Funding Amount
     (a) Principal amount in Principal Funding Account on the
         related Transfer Date                                                                       $             -
                                                                                                     --------------------

     (b) Deficit Controlled Accumulation Amount with respect
         to the related Collection Period(s)                                                         $             -
                                                                                                     --------------------

     (c) Principal Funding Investment Proceeds deposited in the
         Collection Account on the related Transfer Date(s)                                          $             -
                                                                                                     --------------------

     (d) Reserve Draw Amount deposited in the Collection Account
         on the related Transfer Date(s) from the Reserve Account                                    $             -
                                                                                                     --------------------

10.  Reserve Draw Amount on the related Transfer Date(s)                                             $             -
                                                                                                     --------------------

<PAGE>

11.  Overconcentration Draw Amount on the related Transfer Date(s)                                   $             -
                                                                                                     --------------------

12.  Available Funds
     (a) Class A Available Funds on deposit in the Collection Account on the related                 $  156,973,066.24
                                                                                                     --------------------
          Transfer Date(s)

     (b) Class B Available Funds on deposit in the Collection Account on the related                 $    2,504,889.35
                                                                                                     --------------------
          Transfer Date(s)

     (c) Collateral Available Funds on deposit in the Collection Account on the related              $    7,514,668.06
                                                                                                     --------------------
          Transfer Date(s)

13.  Portfolio Yield and Base Rate
     (a) Portfolio Yield for the related Collection Period                                                       21.66%
                                                                                                     --------------------

     (b) Base Rate for the related Collection Period                                                              7.42%
                                                                                                     --------------------

14.  Monthly Payment Rate                                                                                        90.13%
                                                                                                     --------------------

15.  Principal Payment Rate                                                                                      90.13%
                                                                                                     --------------------

16.  Gross Losses as a Percentage of Charge Volume & Fees                                                         0.39%
                                                                                                     --------------------

17.  Minimum Transferor's Percentage                                                                             11.83%
                                                                                                     --------------------
</TABLE>

     U.S. Bancorp Card Services, Inc.
     Servicer

     By:/s/Michael Scarseth
     -------------------------
     Name: Michael Scarseth

     Title: Servicing Officer

<PAGE>

                    SCHEDULE TO ANNUAL SERVICER'S CERTIFICATE
                          YEAR ENDING DECEMBER 31, 2000
                        U.S. BANK NATIONAL ASSOCIATION ND
              FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1
<TABLE>
<CAPTION>
                                                                                                              2000
                                                                                                        Aggregate Amounts
<S>                                                                                                  <C>
     1.  Investor Percentage of Principal Collections                                                $4,542,430,698.06
                                                                                                     --------------------

     2.  Investor Percentage of Yield Collections (ex. Net Interchange)                              $   92,702,667.31
                                                                                                     --------------------

     3.  Investor Percentage of Net Interchange                                                      $   76,932,050.22
                                                                                                     --------------------

     4.  Servicer Interchange                                                                        $    4,200,000.00
                                                                                                     --------------------

     5.  The aggregate amount of funds on deposit in Collection Account allocable to Series
         1997-1 Certificates                                                                         $7,510,358,712.46
                                                                                                     --------------------

     6.  Funds in Principal Funding Account allocable to Series 1997-1 Certificates                  $             -
                                                                                                     --------------------

     7.  Aggregate amount paid in accordance with the Loan Agreement pursuant to Section 4.11        $    1,291,278.23
                                                                                                     --------------------

     8.  Required Collateral Invested Amount over the Collateral Invested Amount                     $             -
                                                                                                     --------------------

     9.  Collateral Invested Amount                                                                  $   18,900,000.00
                                                                                                     --------------------

     10. The amount of Monthly Interest, Deficiency Amounts and Additional
         Interest payable to the
        (i) Class A Certificateholders                                                               $             -
                                                                                                     --------------------

        (ii) Class B Certificateholders                                                              $             -
                                                                                                     --------------------

        (iii) Collateral Interest Holder                                                             $    1,291,278.23
                                                                                                     --------------------

     11. The amount of principal payable to the
        (i) Class A Certificateholders                                                               $             -
                                                                                                     --------------------

        (ii) Class B Certificateholders                                                              $             -
                                                                                                     --------------------

        (iii) Collateral Interest Holder                                                             $             -
                                                                                                     --------------------

     12. The sum of all amounts payable to the
        (i) Class A Certificateholders                                                               $   25,267,200.00
                                                                                                     --------------------

        (ii) Class B Certificateholders                                                              $      412,650.00
                                                                                                     --------------------

        (iii) Collateral Interest Holder                                                             $    1,291,278.23
                                                                                                     --------------------

     13. To the knowledge of the undersigned, no Early Amortization Event has occurred except
         as described below:

     None
</TABLE>


     In witness whereof, the undersigned has duly executed this certificate this
     11th day of April, 2001.

     U.S. Bancorp Card Services, Inc.
     Servicer

     By:/s/Michael Scarseth
     -------------------------
     Name:  Michael Scarseth

     Title: Servicing Officer