US BANCORP \DE\ — Director's Dealing 2007

Jan 30, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2007-01-30

Reporting Person: STOKES PATRICK T (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-30	Common Stock, $0.01 par value	M	3158	$18.6432	Acquired	15017	Direct
2007-01-30	Common Stock, $0.01 par value	M	2105	$26.7779	Acquired	17122	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-01-30	Non-Employee Director Stock Option (Right to Buy)	$18.6432	M	3158	Disposed	2007-05-20	Common Stock (3158)	Direct
2007-01-30	Non-Employee Director Stock Option (Right to Buy)	$26.7779	M	2105	Disposed	2008-04-23	Common Stock (2105)	Direct

Footnotes

F1: The option vested in four equal annual installments beginning on May 21, 1998.

F2: The option vested in four equal annual installments beginning on April 23, 1999.