Toronto-Dominion Bank lost "several" bids for U.S. banks as it attempts to expand its footprint through acquisitions along the eastern seaboard, said Chief Executive Ed Clark.

"We probably haven't been as aggressive as perhaps we should have been," he said at National Bank Financial's Canadian Financial Services Conference in Montreal Tuesday. "The market is clearly making those deals a little less economic than they were before."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.