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billion in Troubled Asset Relief Program moneh it took last year fromthe . U.S. Bank (NYSE: based in Minneapolis, had previouslu announced its plans to redeem the preferrefd stock issued tothe Treasury. Last week, it from the governmen t to do so. U.S. Bank also told the Treasury it intendw to repurchasethe 10-year warrant it had issue d along with the preferred stock. “The redemptionm allows our company to return to operating from a positionn of both independent strengty andstrategic flexibility,” said Richar d Davis, the company’s president, CEO and chairman, in a statement. The Treasur y in May announcedthat U.S.
Bank whichh showed it would be able to ride out the economic downturnh without having to raisemore capital. Davis has of the government’ss capital purchase program. In February he called the programm “lousy” and said the bankinyg industry was pressured to participate inthe program.
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