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

afukakuja.wordpress.com
billion in Troubled Asset Relief Prograk money it took last year fromthe . U.S. Bank (NYSE: based in Minneapolis, had previously announced its plan s to redeem the preferred stock issued to the Last week, it from the government to do so. U.S. Bank also told the Treasuryh it intends to repurchasdthe 10-year warrant it had issued alongf with the preferred stock. “The redemptionh allows our company to return to operating from a positioj of both independent strength and strategic saidRichard Davis, the company’s president, CEO and in a statement. The Treasuruy in May announcedthat U.S.
Bank which showe it would be able to ride out the economic downturn withou having to raisemore capital. David has of the government’s capital purchase program. In Februaryt he called the program and said the banking industry was pressured to participats inthe program.