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

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billion in Troubled Asset Relief Program moneh it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslu announced its plans to redeem the preferreds stock issued tothe Treasury. Last it from the government todo so. U.S. Bank also told the Treasuruy it intends to repurchasethe 10-year warrang it had issued along with the preferrefd stock. “The redemption allows our company to returhn to operating from a position of both independent strengtn andstrategic flexibility,” said Richard the company’s president, CEO and in a statement. The Treasury in May announcedthat U.S.
Bank which showex it would be able to ride out the economic downturnm without having to raise more Davis has ofthe government’s capital purchase In February he called the progran “lousy” and said the bankiny industry was pressured to participate in the