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TD Bank acquisition of Commerce Bancorp completed
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 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 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: 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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