US BANCORP \DE\ — Director's Dealing 2007

Jan 24, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2007-01-22

Reporting Person: Hoesley Joseph C (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-22	Common Stock, $0.01 par value	F	731	$35.45	Disposed	55925	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	9914.1558	Indirect
Common Stock, $0.01 par value	48975	Indirect
Common Stock, $0.01 par value	3068.377	Indirect

Footnotes

F1: Based on a plan report dated December 31, 2006, the most recent plan report available.

F2: Includes amounts acquired in July and October of 2006 and January of 2007 pursuant to a dividend reinvestment feature of the reporting person's IRA.