MHYP News

U.S. Bancorp    — parent of U.S. Bank   , one of the Denver area's largest — considers Colorado one of its five top growth markets nationwide, president and CEORichard Davis said.

In an interview Monday with the Nashville Business Journal, a Denver Business Journal sister paper, Davis said that the other four states targeted for growth by the Minneapolis-based bank (NYSE: USB) are Arizona, Nevada, Tennessee and Utah.

Davis said U.S. Bank's ambition is mainly to deepen its presence in markets where, like Colorado, it already has a footprint, not spread to new territory. Growth could come, he said, in the form of natural growth, investment in new locations and the purchase of banks or branches in the right circumstances.

U.S. Bank is the Denver area's fourth largest by local deposits, which total $6.21 billion, amounting to a 10.73 percent market share, up from 10.14 percent last year, the FDIC says.