US BANCORP \DE\ — Director's Dealing 2006

Nov 1, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-10-31

Reporting Person: COORS PETER H (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-31	Common Stock, $0.01 par value	M	1089	$18.8021	Acquired	19204	Direct
2006-10-31	Common Stock, $0.01 par value	S	608	$33.94	Disposed	18596	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-10-31	Non-Employee Director Stock Option (Right to Buy)	$18.8021	M	1089	Disposed	2007-01-15	Common Stock (1089)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	394	Indirect

Footnotes

F1: The proceeds of the sale of shares were used to pay the expenses of the option exercise reported on this form.

F2: The option vested in four equal annual installments beginning on January 15, 1998.