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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Pfb02GViHjKZ583jwguhYGVAYSIUKC2HEdHviqxc4Lj+DV4nphka+aF8+SKIW3vM
 cRIWJj7ITvT9DJ7H5qMbwQ==

<SEC-DOCUMENT>0001225208-11-003097.txt : 20110114
<SEC-HEADER>0001225208-11-003097.hdr.sgml : 20110114
<ACCEPTANCE-DATETIME>20110114161307
ACCESSION NUMBER:		0001225208-11-003097
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110113
FILED AS OF DATE:		20110114
DATE AS OF CHANGE:		20110114

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			COLLINS ARTHUR D JR
		CENTRAL INDEX KEY:			0001038253

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06880
		FILM NUMBER:		11530475

	MAIL ADDRESS:	
		STREET 1:		MEDTRONIC, INC
		STREET 2:		710 MEDTRONIC PKWY, MS LC310
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55432-5604

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			US BANCORP \DE\
		CENTRAL INDEX KEY:			0000036104
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				410255900
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		U.S.BANCORP
		STREET 2:		800 NICOLLET MALL
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402
		BUSINESS PHONE:		(651)466-3000

	MAIL ADDRESS:	
		STREET 1:		U.S.BANCORP
		STREET 2:		800 NICOLLET MALL
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST BANK SYSTEM INC
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST BANK STOCK CORP
		DATE OF NAME CHANGE:	19720317
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2011-01-13</periodOfReport>

    <issuer>
        <issuerCik>0000036104</issuerCik>
        <issuerName>US BANCORP \DE\</issuerName>
        <issuerTradingSymbol>USB</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001038253</rptOwnerCik>
            <rptOwnerName>COLLINS ARTHUR D JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>710 MEDTRONIC PARKWAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55432</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Deferred Compensation Plan Participation</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2011-01-13</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>3925.2336</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>26.7500</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $0.01 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3925.2336</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6010.4120</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="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.</footnote>
        <footnote id="F2">Includes amounts acquired pursuant to dividend reinvestment.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Lee R. Mitau for Arthur D. Collins, Jr.</signatureName>
        <signatureDate>2011-01-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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