US BANCORP \DE\ — Director's Dealing 2007

Jan 23, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2006-12-18

Reporting Person: LEVIN JERRY W (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2006-12-18	Common Stock, $0.01 par value	M	1873	$18.8021	Acquired	30762	Direct
2006-12-18	Common Stock, $0.01 par value	M	6495	$19.0008	Acquired	37257	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2006-12-18	Non-Employee Director Stock Option (Right to Buy)	$18.8021	M	1873	Acquired	2007-01-15	Common Stock (1873)	Direct
2006-12-18	Non-Employee Director Stock Option	$19.0008	M	6495	Acquired	2007-04-24	Common Stock (6495)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	3795	Indirect

Footnotes

F1: The option vested in four equal annual installments beginning on January 15, 1998.

F2: The option vested in four equal annual installments beginning on April 24, 1998.