WASHINGTON, July 5 The U.S. Treasury said on
Tuesday that the buyer of Marshall & Ilsley Corp has repaid
$1.73 billion in taxpayer funds related to the Milwaukee bank
holding company's bailout.
Bank of Montreal (BMO.TO), as part of its acquisition of
M&I, purchased $1.715 billion in M&I preferred shares held by
the Treasury, paid final dividends of $11.9 million and
purchased M&I warrants held by Treasury for $3.3 million.
The total brings recoveries from the Troubled Asset Relief
Program's bank rescue efforts to $255 billion, against initial
support of $245 billion, the Treasury said in a statement. The
Treasury estimates that TARP bank programs will ultimately earn
a profit of about $20 billion.
(Reporting by David Lawder; Editing by Andrea Ricci)