US BANCORP \DE\ — Director's Dealing 2011

Feb 18, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-02-16

Reporting Person: Gifford Craig E (EVP and Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-16	Common Stock, $0.01 par value	A	6271.0000	$0.0000	Acquired	23275.0000	Direct
2011-02-16	Common Stock, $0.01 par value	F	659.0000	$28.7400	Disposed	22616.0000	Direct
2011-02-18	Common Stock, $0.01 par value	F	613.0000	$28.3700	Disposed	22003.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-16	Employee Stock Option (Right to Buy)	$28.7000	A	5679.0000	Acquired	2021-02-16	Common Stock, $0.01 par value (5679.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	367.9335	Indirect

Footnotes

F1: Based on a plan report dated February 7, 2011, the most recent plan report available.

F2: The options vest in four equal annual installments beginning on February 16, 2012.