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

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billion in Troubled Asset Relief Program mone it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previousluy announced its plans to redeem the preferred stock issued tothe Treasury. Last week, it from the governmen t to do so. U.S. Bank also told the Treasury it intends to repurchasethe 10-year warrant it had issued along with the preferred “The redemption allows our company to returbn to operating from a positioj of both independent strength and strategic said Richard Davis, the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank whicg showed it would be able to ride out the economic downtur without having to raise more Davis has ofthe government’es capital purchase program. In Februar he called the program “lousy” and said the bankinvg industry was pressured to participate inthe program.