U.S. Bank returns TARP money - San Francisco Business Times:

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billion in Troubled Asset Relief Programm money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announced its plans to redeem the preferree stock issued tothe Treasury. Last week, it from the governmentf to do so. U.S. Bank also told the Treasur it intends to repurchasethe 10-year warrant it had issuefd along with the preferred stock. “The redemption allowse our company to return to operating from a position of both independenrt strength andstrategic flexibility,” said Richard Davis, the company’w president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank which showes it would be able to ride out the economicx downturn without having to raise more Davis has ofthe government’s capital purchase In February he called the program “lousy” and said the bankingg industry was pressured to participate in the program.