United in Michigan Repays Tarp Funds

United Bancorp (UBMI) in Ann Arbor, Mich., has redeemed the last of its Troubled Asset Relief Program shares. United bought back the shares and paid all outstanding dividends for $10.4 million, their face value, it said Friday. It funded the redemption with cash from its banking unit and a loan of $4 million under the company's line of credit, it said. …

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