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

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billion in Troubled Asset Relief Program monegy it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslh announced its plans to redeem the preferred stocki issued tothe Treasury. Last week, it from the governmentr to do so. U.S. Bank also told the Treasury it intendsw to repurchasethe 10-year warranft it had issued along with the preferredf stock. “The redemption allows our company to returhn to operating from a position of both independent strengtyh andstrategic flexibility,” said Richard Davis, the company’s president, CEO and in a statement. The Treasury in May announcefdthat U.S.
Bank which showed it woul d be able to ride out the economicf downturn without having to raise more Davis has ofthe government’s capital purchasr program. In February he calledr the program “lousy” and said the banking industruy was pressured to participate inthe program.