March 19, 2008
TD Banknorth changes name
TD Banknorth this morning said it will change its name to TD Commerce Bank to reflect its acquisition of Cherry Hill, N.J.-based Commerce Bank.
Portland-based TD Banknorth, which is owned by Toronto-based TD Bank Financial Group, expects to complete the $8.5 billion deal to buy Commerce Bank within the next couple weeks, Jennifer Carlson, a TD Banknorth spokesperson, told Mainebiz this morning. The deal to buy the larger bank, which was announced in October, will more than double TD Banknorth's $40 billion in assets. In Maine, local TD Banknorth branches will complete the rebranding to the TD Commerce Bank name by 2009, Carlson said.
When asked if TD Commerce Bank would move its headquarters to New Jersey, Carlson said no decisions have been made, "but we will have executive and employee presence in both New Jersey and Maine." (She also said the bank is "exploring options" with how the change will affect the name of the TD Banknorth Garden in Boston.)
Portland-based TD Banknorth, which is owned by Toronto-based TD Bank Financial Group, expects to complete the $8.5 billion deal to buy Commerce Bank within the next couple weeks, Jennifer Carlson, a TD Banknorth spokesperson, told Mainebiz this morning. The deal to buy the larger bank, which was announced in October, will more than double TD Banknorth's $40 billion in assets. In Maine, local TD Banknorth branches will complete the rebranding to the TD Commerce Bank name by 2009, Carlson said.
When asked if TD Commerce Bank would move its headquarters to New Jersey, Carlson said no decisions have been made, "but we will have executive and employee presence in both New Jersey and Maine." (She also said the bank is "exploring options" with how the change will affect the name of the TD Banknorth Garden in Boston.)
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