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

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billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank (NYSE: USB), basedf in Minneapolis, had previously announced its plans to redeem the preferre d stock issued to the Last week, it from the governmeny to do so. U.S. Bank also told the Treasuryh it intends to repurchasethe 10-year warrant it had issuedr along with the preferred “The redemption allows our company to returj to operating from a position of both independentt strength and strategic flexibility,” said Richard Davis, the company’z president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank which showedf it would be able to ride out the economixc downturn without having to raise more Davis has ofthe government’s capital purchase In February he called the program “lousy” and said the banking industry was pressuredx to participate in the program.