Toronto-Dominion Bank (NYSE: TD) is apparently interested in bulking up its U.S. banking operations. "With respect to major mergers and acquisitions in the United States, we're very open," TD Bank's CEO Bharat Masrani told Bloomberg recently. "If we can find some opportunity that fits all our criteria, we will look at it very seriously, and our capital gives us that flexibility." As the largest bank in Canada, TD Bank has more than $1.73 trillion in assets and already a sizable U.S. operation. Image source: Getty Images. As of June 30 of 2020, TD Bank had 1,227 branches in 16 different U.S. states, totaling more than $351 billion in deposits. That makes it one of the largest U.S. banks when just looking at its U.S. presence. TD Bank also has $9.6 billion in excess capital above the regulatory capital levels it targets, giving it the ability to go in and make a big purchase. In January, TD Bank purchased Wells Fargo's Canadian direct equipment-finance business, which had $1.18 billion in assets and over 120 employees. Over the last several months, bank valuations have risen significantly, but Masrani does not see this as a deterrent. "A seller always feels that valuations are not high enough, and as an acquirer, we always feel that they're over the top," he said. "But there are always opportunities. That's what makes markets." TD Bank currently trades at about 182% of tangible book value, which is very solid right now and will give it decent purchasing power in an all- or part-stock deal. 10 stocks we like better than The Toronto-Dominion BankWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and The Toronto-Dominion Bank wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Wells Fargo is an advertising partner of The Ascent, a Motley Fool company. Bram Berkowitz has the following options: long September 2021 $30.0 calls on Wells Fargo. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source