US BANCORP \DE\ — Director's Dealing 2011

Jan 14, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2011-01-13

Reporting Person: JOHNSON JOEL W (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-13	Deferred Compensation Plan Participation	$	A	1822.4299	Acquired		Common Stock, $0.01 par value (1822.4299)	Direct

Footnotes

F1: Deferred Compensation Plan Participation is valued against U.S. Bancorp common stock on a one-for-one basis and is payable in common stock when the reporting person ceases to serve on U.S. Bancorp's Board of Directors.

F2: Includes amounts acquired pursuant to dividend reinvestment.