TORONTO, March 31 /CNW/ - TD Bank Financial Group (TSX, NYSE: TD) today
announced that it has completed the acquisition of Commerce Bancorp.
"This marks a tremendous step forward in TD's history as a leading North
American financial institution. We're thrilled to officially welcome Commerce
Customers, Employees and Shareholders into the TD family," said Ed Clark,
President and CEO, TD Bank Financial Group.
"Backed by the strength of TD Bank Financial Group, we will continue to
raise the bar in Customer service and satisfaction," said Bharat Masrani,
President and Chief Executive Officer of the combined entity to be known as TD
Commerce Bank. "As America's Most Convenient Bank, we will WOW! our Customers
from Maine to Florida with our great hours and great people."
The Combination of TD and Commerce - Facts and Figures
- Approximately 17 million Customers served by more than 74,000
fantastic Employees worldwide
- Over 2,100 retail branches/stores - top 7 in North America
- Over 5,000 Automated Banking Tellers/Machines
- Almost a third of a trillion dollars in deposits
- Rated No. 1 in customer service and satisfaction by J.D. Power two
years in a row
TD Bank Financial Group will hold an investor call and audio webcast on
April 21, 2008. The call will feature presentations on the completion of the
transaction and expected earnings impact, followed by a question and answer
period with investors and analysts.
The call will be webcast live via TD's website at 11:00 a.m. ET and is
expected to last about 60 minutes. The presentation material referenced during
the call will be available on the TDBFG website at
www.td.com/investor/current.jsp on April 21, 2008, by approximately
9:00 a.m. ET. A listen-only telephone line is available at 416-915-5762 or
1-800-594-3790 (toll free).
The webcast and presentations will be archived at
www.td.com/investor/calendar_arch.jsp. Replay of the teleconference will be
available from 2:00 p.m. ET on April 21, 2008, until May 21, 2008, by calling
416-640-1917 or 1-877-289-8525 (toll free). The passcode is 21267641, followed
by the pound key.
The presentations may contain forward-looking statements including
statements regarding the business and anticipated financial performance of TD
Bank Financial Group. Forward-looking statements are subject to a number of
risks and uncertainties that may cause actual results to differ materially
from those contemplated by the statements. Therefore, forward-looking
statements should be considered carefully and undue reliance should not be
placed on them.
About TD Bank Financial Group
The Toronto-Dominion Bank and its subsidiaries are collectively known as
TD Bank Financial Group. TD Bank Financial Group is the seventh largest bank
in North America by branches and serves approximately 17 million customers in
four key businesses operating in a number of locations in financial centres
around the globe: Canadian Personal and Commercial Banking, including TD
Canada Trust; Wealth Management, including TD Waterhouse and an investment in
TD Ameritrade; U.S. Personal and Commercial Banking through TD Commerce Bank;
and Wholesale Banking, including TD Securities. TD Bank Financial Group also
ranks among the world's leading on-line financial services firms, with more
than 5.5 million on-line customers. TD Bank Financial Group had
CDN$435 billion in assets as of January 31, 2008. The Toronto-Dominion Bank
trades on the Toronto and New York Stock Exchanges under the symbol "TD", as
well as on the Tokyo Stock Exchange.
For further information:
For further information: Simon Townsend, Corporate Communications, TD
Bank Financial Group, (416) 944-7161; David Flaherty, Commerce Bancorp, (856)
751-4069; Tim Thompson, Investor Relations, TD Bank Financial Group, (416)