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billion in Troubled Asset Relief Program money it took last year fromthe . U.S. Bank USB), based in Minneapolis, had previously announced its plansz to redeem the preferred stock issuesd tothe Treasury. Last week, it from the government to do so. U.S. Bank also told the Treasury it intendds to repurchasethe 10-yeaf warrant it had issued along with the preferred stock. “The redemption allows our company to returmn to operating from a position of both independent strength andstrategic flexibility,” said Richard the company’s president, CEO and chairman, in a The Treasury in May announced that U.S.
Bank which showee it would be able to ride out the economixc downturn without having to raise more Davis has ofthe government’s capital purchase program. In February he callec the program “lousy” and said the banking industry was pressured to participat e inthe program.
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