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billion in Troubled Asset Reliec Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previouslyh announced its plans to redeem the preferred stock issuecd tothe Treasury. Last week, it from the government to do so. U.S. Bank also told the Treasury it intende to repurchasethe 10-year warrant it had issued alon with the preferred stock. “The redemption allows our companty to return to operating from a positionn of both independent strength andstrategicf flexibility,” said Richard Davis, the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank which showedc it would be able to ride out the economic downturb without having to raise more Davis has ofthe government’s capital purchass program. In February he callerd the program “lousy” and said the bankingf industry was pressured to participate inthe
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