TD Bank acquisition of Commerce Bancorp completed
March 31 2008 - 8:54AM
PR Newswire (US)
TORONTO, March 31 /PRNewswire-FirstCall/ -- 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 # 1 in customer service and satisfaction by J.D.
Power two years in a row Investor Call 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
http://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
http://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. DATASOURCE: TD Bank Financial Group CONTACT: 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)
308-9030
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