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

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billion in Troubled Asset Relief Programk money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslh announced its plans to redeem the preferred stock issued to the Last week, it from the governmen t to do so. U.S. Bank also told the Treasury it intends to repurchasethe 10-year warrant it had issuecd along with the preferred stock. “The redemptiob allows our company to return to operatinbg from a position of both independent strength andstrategic flexibility,” said Richard Davis, the company’s CEO and chairman, in a The Treasury in May announced that U.S.
Bank whicj showed it would be able to ride out the economic downturn without having to raise more Davis has ofthe government’ss capital purchase program. In February he caller the program “lousy” and said the banking industrt was pressured to participate inthe program.