FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Hidy Richard J   2. Issuer Name and Ticker or Trading Symbol US BANCORP \DE\ [USB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP, Chief Risk Officer (Last) (First) (Middle) U.S. BANCORP, 800 NICOLLET MALL 3. Date of Earliest Transaction (Month/Day/Year) 04/21/2008 (Street) MINNEAPOLIS, MN 55402 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock, $0.01 par value 04/18/2008   M   1,258 A $ 21.541 8,340.1557 D   Common Stock, $0.01 par value 04/18/2008   M   5,789 A $ 21.4938 14,129.1557 D   Common Stock, $0.01 par value 04/18/2008   S   4,637 D $ 33.92 9,492.1557 D   Common Stock, $0.01 par value 04/18/2008   S   2,300 D $ 33.93 7,192.1557 D   Common Stock, $0.01 par value 04/18/2008   S   110 D $ 33.9184 7,082.1557 D   Common Stock, $0.01 par value               12,817.2936 (1) I By 401(k) plan Common Stock, $0.01 par value               14.3764 (2) I By wife as UGMA custodian for son

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Common Stock (Right to Buy)

$ 21.541

04/18/2008

M

1,258

(3)

12/12/2010

Common Stock

1,258

$ 0

0

D

Employee Common Stock (Right to Buy)

$ 21.4938

04/18/2002

M

5,789

(4)

12/17/2012

Common Stock

5,789

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Hidy Richard J U.S. BANCORP 800 NICOLLET MALL MINNEAPOLIS, MN 55402			EVP, Chief Risk Officer

Signatures

Lee R. Mitau for Richard J. Hidy		04/21/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Based on a plan report dated March 31, 2008, the most recent plan report available.
(2)	Includes amounts acquired pursuant to dividend reinvestment in April 2008.
(3)	The option vested in four equal annual installments beginning on December 12, 2001.
(4)	The option vested in four equal annual installments beginning on December 17, 2003.

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