U.S. Bank returns TARP money - Business First of Columbus:

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billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announced its plans to redee 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 repurchasethe 10-year warrant it had issued along with the preferrex stock. “The redemption allows our company to return to operatint from a position of both independenyt strength andstrategic flexibility,” said Richard Davis, the company’s CEO and chairman, in a statement. The Treasury in May announced that U.S.
Bank which showes it would be able to ride out the economicf downturn without having to rais emore capital. Davis has of the government’d capital purchase program. In February he called the prograkm “lousy” and said the bankint industry was pressured to participate inthe program.