TD Bank, N.A. · Wilmington, DE United States
Company Description
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This link will open in a new window A big-box bank? Touting itself as "America's most convenient bank," TD Bank (AKA TD Banknorth) has more than 1,100 branches in about a dozen northeastern states and Florida. Many of its offices are open seven days a week and until 8 p.m. It also provides 24/7 customer service in most markets. In 2008 Canada's Toronto-Dominion Bank (it, too, is known as TD Bank) acquired Commerce Bancorp and combined it with its own TD Banknorth to create TD Bank, N.A. The $8.5 billion merger came on the heels of the departure of Commerce Bancorp's founder and longtime chief Vernon Hill, who modeled his company after big-box retailers such as Wal-Mart and Target and had opposed the transaction. To read the full description, subscribe now.
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Key TD Bank, N.A. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | October |
| Annual Sales (mil.) | $4.4 |
| Employees | 6,200 |
TD Bank, N.A. Executives
37 executives listed for TD Bank, N.A.'s Wilmington, DE location.
| Title | Name & Bio | Contact |
| Chairman | William Ryan | Network |
| President and CEO | Bharat Masrani | Network |
| EVP Finance and CFO | Stephen Boyle | Network |
Competition
Competitive Landscape for TD Bank, N.A.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top TD Bank, N.A. Competitors
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