Comerica Inc. has repaid the Treasury Department the $2.25 billion of aid it received in late 2008.
Comerica last week announced plans to sell at least $800 million in stock, using the proceeds to help fund the Troubled Asset Relief Program repayment.
The sale size represented some one-seventh of the regional bank's market value.
The company — which has banks in hard-hit Michigan, Arizona, Florida and California — is among the nation's last big banks to repay its Tarp aid. Some got approval to do so as far back as last June.
By making the repayment, Comerica will save $134 million in annual interest the Treasury Department was receiving.
