US BANCORP \DE\ — Director's Dealing 2011

Jan 20, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-01-18

Reporting Person: Payne Richard B JR (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-18	Common Stock, $0.01 par value	F	2712.0000	$27.5200	Disposed	14264.7020	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	1124.0081	Indirect
Common Stock, $0.01 par value	2000.0000	Indirect

Footnotes

F1: Includes amount acquired pursuant to dividend reinvestment.

F2: Based on a plan report dated December 31, 2010, the most recent plan report available.