Marking its official exit from the Troubled Asset Relief Program, Regions Financial (RF) in Birmingham announced Wednesday that it has repurchased the warrant it sold to the Treasury Department as part of the program.

The $128 billion-asset Regions paid $45 million to buy back the warrant that gave the Treasury the right to purchase roughly 48.3 million of its shares for $10.88 each.

Regions repaid the $3.5 billion it received from the Treasury program, plus dividends, last month, using the proceeds of a stock offering and the sale of its investment bank and brokerage subsidiary, Morgan Keegan.

Until its repayment, Regions had been the largest banking company remaining in the nearly four-year-old program.

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