That does seem like a long time, although USB 2.0 is slow. I just tried something on my Mac Mini. I have an external SSD that has various TV series on one of the partitions. One of those is Season 3 of "House of Cards", and the size of that folder (contains 13 episodes) is almost 12 gig in size. It is connected to my Mac Mini via USB 3.0. Also, I have a SanDisk Cruzer Guide 32 gig USB 3.0 Flash Drive that is plugged into my USB 3.0 hub, which of course is connected to the Mini. When I dragged that "House of Cards" folder onto the SanDisk device, it said it was going to take 28 minutes.
So, yes, USB 2.0 is going top be slower, but 2 hours for copying a 12 gig folder does seem excessive. I no longer have any USB 2.0 Flash Drives, so I can't provide a more definitive test. But my testing should give you a better idea.
Also, note that the dragging was done from the external SSD, through a USB 3.0 port, to another USB 3.0 port, and finally onto the Flash Drive. If that "House of Cards" folder was on the Mac Mini instead, I suspect the transfer would be somewhat faster.