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: 2007-01-19

Reporting Person: GRUNDHOFER JERRY A (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-01-19	Common Stock, $0.01 par value	S	15100	$35.61	Disposed	71700	Direct
2007-01-19	Common Stock, $0.01 par value	S	9400	$35.62	Disposed	62300	Direct
2007-01-19	Common Stock, $0.01 par value	S	24500	$35.63	Disposed	37800	Direct
2007-01-19	Common Stock, $0.01 par value	S	20100	$35.64	Disposed	17700	Direct
2007-01-09	Common Stock, $0.01 par value	S	4200	$35.65	Disposed	13500	Direct
2007-01-19	Common Stock, $0.01 par value	S	1500	$35.66	Disposed	12000	Direct
2007-01-19	Common Stock, $0.01 par value	S	2600	$35.67	Disposed	9400	Direct
2007-01-19	Common Stock, $0.01 par value	S	800	$35.68	Disposed	8600	Direct
2007-01-19	Common Stock, $0.01 par value	S	4400	$35.69	Disposed	4200	Direct
2007-01-19	Common Stock, $0.01 par value	S	4200	$35.70	Disposed	0	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	24540.2744	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 December 31, 2006, the most recent plan report available.