U.S. Bancorp's Davis sees steady business plan paying off
With the acquisition of nine banks from the Federal Deposit Insurance Corp., U.S. Bancorp now runs the sixth-largest commercial bank in the U.S. The bank is attracting attention. CEO Richard Davis explained the company's strategy. "I think it's a little unsexy, but we basically are confirming doing more what we've done for the last couple of years -- allowing M&A to be in-fill and depth-building as opposed to expansionary. And allowing M&A to be additional to our success, but spending a fair amount of our capital in the organic measures of old-fashioned banking to get long-term gains."
BNET | 11/02
This story published in The Financial Services Roundtable SmartBrief on 11/04/2009
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