US BANCORP \DE\ — Director's Dealing 2010

Oct 28, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2010-10-27

Reporting Person: STOKES PATRICK T (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-10-27	Common Stock, $0.01 par value	M	8961.0000	$21.5410	Acquired	26083.0000	Direct
2010-10-27	Common Stock, $0.01 par value	S	8961.0000	$24.2237	Disposed	17122.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-10-27	Non-Employee Director Stock Option (Right to Buy)	$21.5410	M	8961.0000	Disposed	2010-12-12	Common Stock, $0.01 par value (8961.0000)	Direct

Footnotes

F1: The option vested in four equal annual installments beginning on December 12, 2001.