U.S. Bank returns TARP money - Pacific Business News (Honolulu):

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billion in Troubled Asset Relief Program monegy it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announces its plans to redeem the preferred stockj issued tothe Treasury. Last it from the government todo so. U.S. Bank also told the Treasurh it intends to repurchasethe 10-year warrant it had issues along with the preferred stock. “The redemption allows our company to returm to operating from a position of both independen t strength andstrategic flexibility,” said Richard the company’s president, CEO and in a statement. The Treasury in May announcexdthat U.S.
Bank which showed it would be able to ride out the economid downturn without having to raisemore capital. Davix has of the government’s capital purchase In February he called theprogram “lousy” and said the bankingy industry was pressured to participate in the