U.S. Bank returns TARP money - San Francisco Business Times:

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billion in Troubled Asset Relief Program moneuy it took last year fromthe . U.S. Bank USB), based in had previously announced its plands to redeem the preferred stock issued to the Last week, it from the government to do so. U.S. Bank also told the Treasuryt it intends to repurchasethe 10-year warrant it had issuedr along with the preferred stock. “The redemptionb allows our company to return to operating from a positionn of both independent strength andstrategic flexibility,” said Richar Davis, the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank which showedx it would be able to ride out the economic downturn without having to raisemore capital. Davis has of the government’ capital purchase program. In February he callerd the program “lousy” and said the bankinv industry was pressured to participate inthe