U.S. Bank returns TARP money – Boston Business Journal:

billion in Troubled Asset Relief Program moneuy it took last year fromthe . U.S. Bank (NYSE: based in Minneapolis, had previouslyt announced its plans to redeem the preferrefd stock issued to the Last week, it from the governmentr to do so. U.S. Bank also told the Treasuryy it intends to repurchasethe 10-year warranrt it had issued along with the preferred stock. “Thed redemption allows our company to return to operating from a position of both independentf strength andstrategic flexibility,” said Richard Davis, the company’ s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank whichb showed it would be able to ride out the economicc downturn without having to raise more Davis has ofthe government’s capital purchase program. In February he called the program and said the banking industryt was pressured to participate inthe program.
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