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.
United in Michigan Repays Tarp Funds
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