US BANCORP \DE\ — Director's Dealing 2007

Jul 25, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2007-07-20

Reporting Person: GRUNDHOFER JERRY A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-07-20	Common Stock, $0.01 par value	S	8900	$32.03	Disposed	40900	Direct
2007-07-20	Common Stock, $0.01 par value	S	5400	$32.04	Disposed	35500	Direct
2007-07-20	Common Stock, $0.01 par value	S	2900	$32.05	Disposed	32600	Direct
2007-07-20	Common Stock, $0.01 par value	S	2000	$32.06	Disposed	30600	Direct
2007-07-20	Common Stock, $0.01 par value	S	1300	$32.07	Disposed	29300	Direct
2007-07-20	Common Stock, $0.01 par value	S	1500	$32.08	Disposed	27800	Direct
2007-07-20	Common Stock, $0.01 par value	S	4500	$32.09	Disposed	23300	Direct
2007-07-20	Common Stock, $0.01 par value	S	3200	$32.10	Disposed	20100	Direct
2007-07-20	Common Stock, $0.01 par value	S	900	$32.11	Disposed	19200	Direct
2007-07-20	Common Stock, $0.01 par value	S	1500	$32.12	Disposed	17700	Direct
2007-07-20	Common Stock, $0.01 par value	S	1600	$32.13	Disposed	16100	Direct
2007-07-20	Common Stock, $0.01 par value	S	400	$32.14	Disposed	15700	Direct
2007-07-20	Common Stock, $0.01 par value	S	1400	$32.15	Disposed	14300	Direct
2007-07-20	Common Stock, $0.01 par value	S	400	$32.17	Disposed	13900	Direct
2007-07-20	Common Stock, $0.01 par value	S	300	$32.21	Disposed	13600	Direct
2007-07-20	Common Stock, $0.01 par value	S	1400	$32.24	Disposed	12200	Direct
2007-07-20	Common Stock, $0.01 par value	S	1600	$32.26	Disposed	10600	Direct
2007-07-20	Common Stock, $0.01 par value	S	400	$32.28	Disposed	10200	Direct
2007-07-20	Common Stock, $0.01 par value	S	1300	$32.29	Disposed	8900	Direct
2007-07-20	Common Stock, $0.01 par value	S	1700	$32.30	Disposed	7200	Direct
2007-07-20	Common Stock, $0.01 par value	S	2900	$32.31	Disposed	4300	Direct
2007-07-20	Common Stock, $0.01 par value	S	1000	$32.32	Disposed	3300	Direct
2007-07-20	Common Stock, $0.01 par value	S	2900	$32.33	Disposed	400	Direct
2007-07-20	Common Stock, $0.01 par value	S	400	$32.35	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	25214.529	Indirect
Common Stock, $0.01 par value	24782.2928	Indirect
Common Stock, $0.01 par value	337300	Indirect

Footnotes

F1: Based on a plan report dated June 30, 2007, the most recent plan report available.