US BANCORP \DE\ — Director's Dealing 2011

Feb 24, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-02-22

Reporting Person: OMALEY DAVID B (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-22	Common Stock, $0.01 par value	M	6141.0000	$23.1824	Acquired	190266.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-22	Non-Employee Director Stock Option (Right to Buy)	$23.1824	M	6141.0000	Disposed	2011-02-27	Common Stock, $0.01 par value (6141.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	19291.0000	Indirect
Common Stock, $0.01 par value	19291.0000	Indirect
Common Stock, $0.01 par value	19291.0000	Indirect

Footnotes

F1: The options vested in four equal annual installments beginning on February 27, 2002.