US BANCORP \DE\ — Director's Dealing 2006

Oct 25, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-10-23

Reporting Person: GRUNDHOFER JERRY A (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-10-23	Common Stock, $0.01 par value	S	16000	$33.64	Disposed	48055	Direct
2006-10-23	Common Stock, $0.01 par value	S	9355	$33.65	Disposed	38700	Direct
2006-10-23	Common Stock, $0.01 par value	S	17500	$33.66	Disposed	21200	Direct
2006-10-23	Common Stock, $0.01 par value	S	3800	$33.67	Disposed	17400	Direct
2006-10-23	Common Stock, $0.01 par value	S	6600	$33.68	Disposed	10800	Direct
2006-10-23	Common Stock, $0.01 par value	S	2900	$33.69	Disposed	7900	Direct
2006-10-23	Common Stock, $0.01 par value	S	7900	$33.70	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	24288.2881	Indirect
Common Stock, $0.01 par value	15000	Indirect
Common Stock, $0.01 par value	227351	Indirect

Footnotes

F1: Based on a plan report dated September 30,2006, the most recent plan report available.