US BANCORP \DE\ — Director's Dealing 2012

Feb 2, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: US BANCORP \DE\ (USB)
CIK: 0000036104
Period of Report: 2012-02-01

Reporting Person: Hoesley Joseph C (Vice Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-01	Common Stock, $0.01 par value	M	20639.0000	$21.4938	Acquired	98326.0000	Direct
2012-02-01	Common Stock, $0.01 par value	S	20639.0000	$28.7405	Disposed	77687.0000	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-01	Employee Stock Option (Right to Buy)	$21.4938	M	20639.0000	Disposed	2012-12-17	Common Stock, $0.01 par value (20639.0000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, $0.01 par value	15869.1282	Indirect
Series F Preferred Stock Depositary Shares	1500.0000	Indirect
Common Stock, $0.01 par value	41128.0000	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $28.7400 to $28.7500. The reporting person will provide to the issuer, any security holder of the issuer or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F2: Based on a plan report dated January 31, 2012, the most recent plan report available.

F3: The option vested in four equal annual installments beginning on December 17, 2003.