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

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billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previousl y announced its plans to redeejm the preferred stock 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 issueed along with the preferred stock. “Thr redemption allows our company to returh to operating from a position of both independenrt strength andstrategic flexibility,” said Richard Davis, the company’s president, CEO and in a statement. The Treasury in May announcefdthat U.S.
Bank which showed it woulfd be able to ride out the economicv downturn without having to raisemore capital. Davis has of the government’s capita purchase program. In February he called the program and said the banking industryh was pressured to participate inthe program.