U.S. Bank returns TARP money - Baltimore Business Journal:

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billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announced its planxs to redeem the preferred stock issued to the Last week, it from the government to do so. U.S. Bank also told the Treasuryh it intends to repurchasethe 10-year warrantr it had issued along with the preferrerd stock. “The redemption allowzs our company to return to operatinb from a position of both independent strength andstrategic flexibility,” said Richard Davis, the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank whic showed it would be able to ride out the economic downturn without having to raise more Davis has ofthe government’sa capital purchase program. In February he called the programm “lousy” and said the bankingb industry was pressured to participate inthe program.