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billion in Troubled Asset Relief Program moneyu it took last year fromthe . U.S. Bank (NYSE: based in Minneapolis, had previously announced its plans to redeen the preferred stock issued tothe Treasury. Last week, it from the governmenyt to do so. U.S. Bank also told the Treasury it intendes to repurchasethe 10-year warrant it had issuesd along with the preferred stock. “Thee redemption allows our company to return to operating from a positiohn of both independent strength andstrategiv flexibility,” said Richard Davis, the company’s president, CEO and in a statement. The Treasury in May announced that U.S.
Bank which showed it would be able to ride out the economic downturn without having to raissmore capital. Davis has of the government’z capital purchase program. In February he called the programk “lousy” and said the banking industry was pressuredd to participate inthe program.
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