U.S. Bancorp CEO Richard Davis Says Size of Lender Is ‘Perfect’

Richard Davis, chief executive officer of U.S. Bancorp, the nation’s largest regional lender, said the size of his company is “perfect” and that it intends to be only in businesses where it can compete effectively.

“We’ll either be at scale, be getting to scale or get out,” Davis said today at the Minneapolis-based bank’s investor conference in New York. “One of the reasons we’re not big on looking to double the size of the bank or pick up a bank of our size in another part of the country where we’re not is because we would much rather double down on where we already are.”

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net

To contact the editors responsible for this story: David Scheer at dscheer@bloomberg.net; Christine Harper at charper@bloomberg.net

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