<PAGE>

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

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

<TABLE>
<CAPTION>

     Capitalized terms used in this Statement have their respective meanings set forth in the
     Pooling and Servicing Agreement.                                                                          1999 Aggregate
                                                                                                                  Amounts
<S> <C>                                                                                                 <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                                                                     $                 57.22
                                                                                                          ------------------------

     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                                     $      4,210,802,941.31
                                                                                                          ------------------------

     (b)  Principal Collections allocated to the Class B Certificates                                     $         67,193,663.96
                                                                                                          ------------------------

     (c)  Principal Collections allocated to the Collateral Investor Interest                             $        201,580,991.87
                                                                                                          ------------------------

2.   Trust Principal Component
     (a)  Trust Principal Component as of the end of the related Collection Period(s)                     $        593,969,344.92
                                                                                                          ------------------------

     (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
                                                                                                          ------------------------
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<TABLE>
<S>  <C>                                                                                                 <C>
     (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)                                   57.21%
                                                                                                          ------------------------

     (i)  Class A Floating Percentage with respect to the related Collection Period(s)                                      53.78%
                                                                                                          ------------------------

     (j)  Class B Floating Percentage with respect to the related Collection Period(s)                                       0.86%
                                                                                                          ------------------------

     (k)  Collateral Floating Percentage with respect to the related Collection Period(s)                                    2.57%
                                                                                                          ------------------------

     (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:                                                                 $          9,126,084.14
                          (b) 60-89 days:                                                                 $          1,304,472.29
                          (c) 90-119 days:                                                                $            294,894.76
                          (d) 120-149 days:                                                               $                100.00
                          Total:                                                                          $         10,725,551.19

                                                                                                               Percentage of
                                                                                                             Total Receivables
                                                                                                          ------------------------
                          (a) 30-59 days:                                                                                    1.51%
                          (b) 60-89 days:                                                                                    0.22%
                          (c) 90-119 days:                                                                                   0.05%
                          (d) 120-149 days:                                                                                  0.00%
                          Total:                                                                                             1.77%

4.   Investor Default Amount
     (a) Investor Default Amount for the related Collection Period(s)                                     $          4,574,192.03
                                                                                                          ------------------------

     (b) Class A Investor Default Amount for the related Collection Period(s)                             $          4,299,740.51
                                                                                                          ------------------------

     (c) Class B Investor Default Amount for the related Collection Period(s)                             $             68,612.88
                                                                                                          ------------------------

     (d) Collateral Investor Default Amount for the related Collection Period(s)                          $            205,838.64
                                                                                                          ------------------------

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                                                                               $                   -
                                                                                                          ------------------------
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<TABLE>
<S>  <C>                                                                                                 <C>
     (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)                                                                                $                   -
                                                                                                          ------------------------

     (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                                                  $        162,053,396.89
                                                                                                          ------------------------

     (b)  Aggregate Yield Collections (including Net Interchange) processed
          during the related Collection Period allocated
          in respect of the Class B Investor Certificate                                                  $          2,585,958.46
                                                                                                          ------------------------

     (c)  Aggregate Yield Collections (including Net Interchange) processed
          during the related Collection Period allocated
          in respect of the Collateral Investor Certificate                                               $          7,757,875.38
                                                                                                          ------------------------

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

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                      $        159,313,025.19
         Transfer Date(s)                                                                                 ------------------------

     (a) Class B Available Funds on deposit in the Collection Account on the related                      $          2,542,229.13
         Transfer Date(s)                                                                                 ------------------------

     (a) Collateral Available Funds on deposit in the Collection Account on the related                   $          7,626,687.38
         Transfer Date(s)                                                                                 ------------------------

13.  Portfolio Yield and Base Rate
     (a) Portfolio Yield for the related Collection Period                                                                  20.68%
                                                                                                          ------------------------

     (b) Base Rate for the related Collection Period                                                                         7.37%
                                                                                                          ------------------------

14.  Monthly Payment Rate                                                                                                   88.88%
                                                                                                          ------------------------

15.  Principal Payment Rate                                                                                                 88.88%
                                                                                                          ------------------------

16.  Gross Losses as a Percentage of Charge Volume & Fees                                                                    1.04%
                                                                                                          ------------------------

17.  Minimum Transferor's Percentage                                                                                        14.00%
                                                                                                          ------------------------

     U.S. Bancorp Card Services, Inc.
     Servicer

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

     Title: Servicing Officer
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<TABLE>
<CAPTION>
                    SCHEDULE TO ANNUAL SERVICER'S CERTIFICATE
                   COLLECTION PERIOD ENDING December 31, 1999
                        U.S. BANK NATIONAL ASSOCIATION ND
              FIRST BANK CORPORATE CARD MASTER TRUST SERIES 1997-1                                                 1999
                                                                                                            Aggregate Amounts
<S>                                                                                                     <C>
      1.  Investor Percentage of Principal Collections                                                    $    4,479,577,597.14
                                                                                                         -----------------------

      2.  Investor Percentage of Yield Collections (ex. Net Interchange)                                  $       91,419,950.96
                                                                                                         -----------------------

      3.  Investor Percentage of Net Interchange                                                          $       80,977,279.77
                                                                                                         -----------------------

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

      5. The aggregate amount of funds on deposit in Collection Account allocable to Series
         1997-1 Certificates                                                                              $    6,764,353,364.18
                                                                                                         -----------------------

      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            $        1,081,482.68
                                                                                                         -----------------------

      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                                                                   $       25,267,200.00
                                                                                                         -----------------------

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

         (iii) Collateral Interest Holder                                                                 $        1,081,482.68
                                                                                                         -----------------------

      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                                                                 $        1,081,482.68
                                                                                                         -----------------------

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

None



<PAGE>

      In witness whereof, the undersigned has duly executed this certificate
      this 31th day of May, 2000.

      U.S. Bancorp Card Services, Inc.
      Servicer

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

      Title: Servicing Officer