U.S. Bank returns TARP money - Philadelphia 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 announcerd its plans to redeem the preferref stock issued to the Last week, it from the government to do so. U.S. Bank also told the Treasur y it intends to repurchasethe 10-yearf warrant it had issued along with the preferrec stock. “The redemption allows our companty to return to operating from a position of both independentf strength andstrategic flexibility,” said Richard the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank which showed it would be able to ride out the economi downturn without having to raisemore capital. Davis has of the government’ws capital purchase program. In February he called the progran “lousy” and said the bankin industry was pressured to participate inthe