U.S. Bank returns TARP money - South Florida 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 previously announced its planes to redeem 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-yearf warrant it had issued alongg with the preferred stock. “The redemption alloww our company to return to operating from a position of both independenf strength and strategic saidRichard Davis, the company’s president, CEO and chairman, in a The Treasury in May announcedd that U.S.
Bank which showefd it would be able to ride out the economic downturn withougt having to raisemore capital. Davis has of the government’sw capital purchase program. In February he calledr the program “lousy” and said the banking industrt was pressured to participate inthe program.