<ARTICLE> 9
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE U.S.
BANCORP MARCH 31, 1997, 10-Q AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO
SUCH FINANCIAL STATEMENTS.
</LEGEND>
<RESTATED> 
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                       4,428,000
<INT-BEARING-DEPOSITS>                               0
<FED-FUNDS-SOLD>                             1,102,000
<TRADING-ASSETS>                               192,000
<INVESTMENTS-HELD-FOR-SALE>                  6,305,000
<INVESTMENTS-CARRYING>                         776,000
<INVESTMENTS-MARKET>                           785,000
<LOANS>                                     52,914,000
<ALLOWANCE>                                    993,400
<TOTAL-ASSETS>                              69,715,000
<DEPOSITS>                                  48,499,000
<SHORT-TERM>                                 6,327,000
<LIABILITIES-OTHER>                          1,675,000
<LONG-TERM>                                  6,211,000
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    150,000
<COMMON>                                       317,000
<OTHER-SE>                                   5,316,000
<TOTAL-LIABILITIES-AND-EQUITY>              69,715,000
<INTEREST-LOAN>                              1,153,200
<INTEREST-INVEST>                              113,900
<INTEREST-OTHER>                                17,100
<INTEREST-TOTAL>                             1,284,200
<INTEREST-DEPOSIT>                             351,800
<INTEREST-EXPENSE>                             537,200
<INTEREST-INCOME-NET>                          747,000
<LOAN-LOSSES>                                   84,200
<SECURITIES-GAINS>                               1,700
<EXPENSE-OTHER>                                575,500
<INCOME-PRETAX>                                464,800
<INCOME-PRE-EXTRAORDINARY>                     293,300
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   293,300
<EPS-PRIMARY>                                     1.18
<EPS-DILUTED>                                     1.17
<YIELD-ACTUAL>                                    5.07
<LOANS-NON>                                    322,300
<LOANS-PAST>                                    85,000
<LOANS-TROUBLED>                                   300
<LOANS-PROBLEM>                                      0
<ALLOWANCE-OPEN>                               992,500
<CHARGE-OFFS>                                  116,300
<RECOVERIES>                                    32,400
<ALLOWANCE-CLOSE>                              993,400
<ALLOWANCE-DOMESTIC>                                 0
<ALLOWANCE-FOREIGN>                                  0
<ALLOWANCE-UNALLOCATED>                              0