U.S. Bank returns TARP money - St. Louis Business Journal:

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billion in Troubled Asset Relief Program monehy it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announced its plans to redeek the preferred stock issued to the Last week, it from the government to do so. U.S. Bank also told the Treasuryg it intends to repurchassethe 10-year warrant it had issued alonfg with the preferred stock. “The redemption allows our company to retur to operating from a position of both independentg strength andstrategic flexibility,” said Richard the company’s president, CEO and in a statement. The Treasury in May announced that U.S.
Bank which showed it woulr be able to ride out the economic downturb without having to raise more Davis has ofthe government’s capitakl purchase program. In February he callesd the program “lousy” and said the banking industryg was pressured to participate inthe program.